Ilyushin Finance Leases Two Aircraft To A Subsidiary Of Kenya Airways

Bombardier Commercial Aircraft has confirmed that Ilyushin Finance Co. (IFC) has converted an option on one Q400 aircraft to a firm order. The Moscow-based leasing company, now with two Q400 on firm order, has successfully concluded a leasing agreement with Jambojet Limited (Jambojet) of Kenya for both aircraft.

"This agreement for these next generation turboprops signifies a key development in IFC's international leasing business," said Alexander Rubtsov, Director General, IFC. "The demand for high-performance turboprops, such as the Q400, continues to expand and we are pleased to enter into this new lease with Jambojet."

Jambojet is expected to take delivery of the first leased Q400 aircraft in May 2017, and the second aircraft later this year. The delivery of these two aircraft will increase the fleet of Q Series turboprops in Africa to over 120 aircraft including about 70 Q400 aircraft.

"We are impressed with the level of professionalism that IFC exhibited throughout the process that led to this first agreement, and are delighted to have found a trusted and reliable partner to support our development plans," said Willem Hondius, Chief Executive Officer, Jambojet. "The Q400 aircraft's performance has exceeded our expectations on all fronts. With its low operating costs and best-in-class passenger experience, the Q400 turboprop has helped us optimize and expand our operations and is undeniably the backbone of Jambojet's growth strategy."

"We are proud of the Q400 aircraft continued success in Africa. Jambojet's operations illustrate the capabilities and qualities of the Q400 aircraft that make it uniquely suitable for the region," said Jean-Paul Boutibou, Vice President, Sales, Middle-East and Africa at Bombardier Commercial Aircraft. "The Q400 is a valuable asset for owners and operators, and we are confident that IFC and Jambojet will find many more opportunities to mutually benefit from the aircraft's outstanding economics and performance."

Bombardier has recorded firm orders for a total of 573 Q400 aircraft.

(Source: Bombardier news release. Image from file)

FMI: www.bombardier.com