Bombardier Aerospace Announces Sale of Five Continental
Business Jets
LE BOURGET, PARIS, FRANCE--JUNE 19, 2001 - 12:26 EDT
Bombardier Aerospace announced today
the sale of five all-new Bombardier Continental* business jet
aircraft to TAG Aeronautics, the exclusive representative and
distributor for Bombardier widebody aircraft in 22 Middle East and
Arab countries.
The value of the order is approximately U.S.$75 million,
(Cdn.$114.15 million) and the first aircraft are scheduled to
enter service in early 2004.
"We are delighted by this purchase agreement since it further
strengthens Bombardier's growing presence in the Middle East and
compliments the five Continental business jets already sold in the
region," stated Peter Edwards, executive vice-president, sales,
Bombardier Business Aircraft.
"The Continental is an exceptional aircraft and is well-suited for
travel in the Middle East," stated Benoit Kerub, president, TAG
Aeronautics. "It features a large cabin and provides excellent
high cruise speed without compromising airfield capability."
Middle East city pairs linked non-stop by the Bombardier
Continental business jet include Abu Dhabi-Rome, Jeddah-London and
Riyadh-Paris.
"Thanks to the ongoing strong support of TAG Aeronautics - who
have been instrumental in shaping the corporate aviation market in
the Middle East - this region has been a strong market for
Bombardier business aircraft in recent years and offers excellent
growth potential," added Mr. Edwards.
TAG Aeronautics has been closely involved with Bombardier's sales
success since 1977. Through the years, the association between
the two corporations has grown stronger, leading to the delivery
of over 70 aircraft.
Designed to deliver best-of-class value in the emerging
super-midsize business jet category, the Bombardier Continental
business jet provides a cost-effective step-up for current light
jet operators as well as for operators constrained by their
current midsize aircraft. It offers true transcontinental range
and superior long-range cruise speed, combined with a full
eight-passenger cabin and operating cost equivalent to or better
than current midsize jets, all at a best-in-class price.
The Bombardier Continental has enjoyed one of the strongest
introductions in corporate aviation history, as operators
recognize its value and versatility. As with previous aircraft
development programs, Bombardier has teamed with international
risk-sharing participants to undertake the design and production
of critical components and aircraft systems.
TAG Aeronautics, a subsidiary of the TAG Group S.A., is an
exclusive representative and distributor in 22 Middle East and
Arab countries for the Bombardier Continental*, Bombardier
Challenger(R) 604, Canadair Special Edition*, Global Express(R),
the Canadair Regional Jet(R) and the new CRJ Series 700 airliner.
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. |
