Toronto-Based Airline Converts Options

Bombardier Aerospace announced Monday Porter Airlines of Toronto recently signed a firm order contract for two 70-seat Q400 turboprop airliners. The transaction represents the conversion of two of the 10 options taken by Porter when it placed a firm order for 10 Q400 aircraft in 2006, and brings the total number of firm Q400 aircraft orders placed by the airline to 12.

The value of the contract at Q400 aircraft list prices is approximately $51 million US.

Based at Toronto City Centre Airport on the city's Lake Ontario waterfront, Porter Airlines began flying to Montreal and Ottawa in the fall of 2006. It later added flights to Halifax and the resort area of Mont Tremblant, Quebec. Porter has recently announced that flights to New York via Newark Liberty International Airport are scheduled to begin on March 31, 2008.

"The Q400 airliner is everything we thought it would be and we're delighted to be expanding our fleet," said Robert Deluce, President and Chief Executive Officer, Porter Airlines. "The crews like the way it flies, the passengers appreciate its cabin comfort, and we appreciate the low operating costs."

"This extraordinary aircraft sparked a resurgence in turboprop travel around the world," said Steven Ridolfi, President, Bombardier Regional Aircraft. "At 360 knots the Q400 airliner combines jet-like speed with among the lowest operating costs of any regional aircraft."

This latest order increases orders for the Q400 aircraft to 282, according to Bombardier, with 190 delivered as of January 31, 2008.

FMI: www.bombardier.com, www.flyporter.com