Bombardier and Germany's Deutsche Structured Finance Sign
MoU for 50 Firm Bombardier CRJ Aircraft
PARIS, FRANCE--JUNE 18, 2001 - 05:28 EDT
Bombardier Aerospace and Deutsche Structured
Finance (DSF) today announced that DSF, in association with
Deutsche Operating Leasing AG (DOL) have concluded a Memorandum of
Understanding (MoU) for the purchase of 50 Bombardier CRJ*
regional jets - plus 30 optioned aircraft. The definitive
purchase contract is expected to be finalized shortly.
The MoU outlines an agreement for the sale of 50 firm aircraft -
30 70-seat Bombardier CRJ700* and 20 86-seat Bombardier CRJ900* -
plus 30 optioned aircraft. The optioned aircraft allow DOL the
flexibility to choose between Bombardier CRJ200*, CRJ700 and
CRJ900 models of the CRJ family of regional jets.
The firm order portion of the contract is valued at approximately
U.S.$1.5 billion (Cdn.$2.25 billion) with deliveries scheduled to
begin in the first quarter of 2003 and be completed in the second
quarter of 2009. The option portion of the contract is valued at
approximately U.S.$1.0 billion (Cdn.$1.5 billion).
DOL was created and launched in 1999 by DSF as a dedicated
aircraft operating leasing company to address the growing market
requirement for investments by German investors in aircraft
leasing. DSF, together with DOL which is managed by DSF, is
responsible for an operating lease portfolio currently comprised
of 12 Boeing 737-300, two Boeing 767-300ER and nine Bombardier CRJ
aircraft. DSF and DOL were the first operating lessors to enter
the regional jet market with Bombardier aircraft.
"Aircraft operating leasing, especially in the regional jet
segment, is a growth industry within a growth industry," said Paul
Steinhardt, CEO of DOL and chief managing director of DSF. "The
demand for aircraft, particularly in the regional jet market, is
expected to continue on its growth path for the next two decades
and we believe the Bombardier CRJ family of regional jets will
continue to be the premier brand in the industry. This order is
not only demonstrative of this belief but also of the value
attached by DSF to the relationship which has been built with
Bombardier since entering the regional jet market with its first
Bombardier CRJ two years ago," he said.
"We are extremely pleased that DSF through DOL has exclusively
selected the flexibility of the Bombardier CRJ family for the
regional jet portion of its portfolio," said Steven Ridolfi,
president, Bombardier Regional Aircraft. "This order will allow
DSF and DOL to further expand the reach of the Bombardier CRJ
product line to customers who require operating lease options in
their business," he said.
It is expected that DSF will primarily concentrate its regional
jet portfolio in the European marketplace.
Since the first commercial CRJ entered revenue service with
Lufthansa CityLine in late 1992, well over 500 aircraft have been
delivered. Firm order backlog for Bombardier's family of regional
jets is well in excess of 600 aircraft while conditional orders
and options raise total commitments for all Bombardier CRJ models
beyond the 2,300 mark.
The initial 50-passenger Bombardier CRJ100/200 models were joined
in the marketplace earlier this year by the first growth version
in the product family - the 70-seat class Bombardier CRJ700.
First deliveries of the further extended model - the 86-seat
Bombardier CRJ900 - will begin in the first quarter of 2003. Both
the Bombardier CRJ700 and Bombardier CRJ900 are well ahead of
competing aircraft currently under development.
Bombardier's regional jet airliner family concept helps to reduce
operating, maintenance and spares costs to operators with mixed
CRJ fleets through commonality in flight crew and maintenance
training as well as substantial capital savings through parts and
equipment common to all members of the airliner family.
Deutsche Structured Finance GmbH, in addition to its other
activities as a specialist in cross-border property and project
related transactions for moveable assets, is the inventor of the
German Operating Lease for aircraft of which it has concluded 26
to date. DSF is a wholly-owned subsidiary of DePfa Bank AG.
Bombardier Aerospace, a unit of Bombardier Inc., is a world leader
in the design, and manufacture of innovative aviation products and
services for the regional, business and amphibious aircraft
markets. It also offers Bombardier Flexjet(R) fractional
ownership, aircraft charter and management, technical services,
aircraft maintenance and pilot training for business, regional
airline and military customers.
Bombardier Inc., a diversified manufacturing and service company,
is a world leading manufacturer of business jets, regional
aircraft, rail transportation equipment and motorized recreational
products. It is also a provider of financial services and asset
management. The Corporation employs 79,000 people in 24 countries
in the Americas, Europe and Asia-Pacific. Bombardier's revenues
for its fiscal year ended Jan. 31, 2001 totalled $16.1 billion and
more than 90% were generated outside Canada.
(R) Registered Trademarks of Bombardier Inc.
* Trademarks of Bombardier Inc.
Note to Editors:
Images of Bombardier CRJ aircraft are available on our web site
photo gallery at: aero.bombardier.com |
