Bombardier Receives Letter of Intent For 10 Q400
Turboprop Airliners From Regional Airlines Holdings,
Inc.
TORONTO, ONTARIO--APRIL 24, 2003 - 11:00 EST
Bombardier Aerospace announced today that
Regional Airlines Holdings, Inc. (REGCO) of Toronto has signed a
Letter of Intent (LOI) to acquire 10 68- to 78-passenger
Bombardier Q400(i) airliners and take options on an additional
15.
A Letter of Intent is a signed proposal, which establishes all
the details of the general contract including training, parts,
warranty, price and payment terms. This is the first step taken
before a purchase agreement is concluded.
The LOI was signed by REGCO president and Chief Executive Officer
Robert Deluce during a brief ceremony at the Bombardier de
Havilland facility attended by Pierre Beaudoin, president and
Chief Operating Officer of Bombardier Aerospace and
representatives from the federal, provincial and municipal
governments.
"The Bombardier Q400 has won high praise from airlines for its
excellent economics and from passengers for its speed, quietness
and comfort," said Mr.Beaudoin. "We are confident the Bombardier
Q400 will receive the same accolades when in service with
Regional Airlines Holdings."
Regional Airlines Holdings, Inc. plans to service 17 cities in
Quebec, Ontario, six U.S. states and the District of Columbia
from a base at Toronto's City Centre Airport. All are within 90
minutes flying time, or 500 nm (925 km).
"The Bombardier Q400 is simply the best aircraft for the service
we are going to provide to our passengers," said Mr. Deluce. "Its
speed is comparable to that of a jet, and Bombardier's Noise and
Vibration Suppression (NVS) system makes the passenger cabin
quieter than that in some jets."
The Bombardier Q400 is a state-of-the-art turboprop airliner that
cruises at 360 knots (667 km/h) while delivering the lowest
operating costs of any regional aircraft. It is also the most
environmentally friendly regional aircraft, with noise and smoke
emissions well below the maximum permitted under international
agreement. The aircraft's high rate of climb after take-off
further helps to minimize the impact on areas surrounding an
airport.
The Bombardier Q400 regularly serves London, England's downtown
London City Airport where environmental regulations are very
strict. FlyBE., a regional airline in the U.K., yesterday placed
a firm order for 17 additional Bombardier Q400 aircraft to add to
the four already in service. Jim French, the airline's managing
director, said the aircraft's "fantastically low" operating costs
allowed him to offer lower fares to his passengers.
The Bombardier Q400 order book, including options and conditional
orders, totals 189 aircraft with 71 delivered and in operation as
of Feb. 28 with eleven customers throughout North America, Europe
and the Asia/Pacific region.
Bombardier Aerospace, a unit of Bombardier Inc., is a world
leader in the design and manufacture of innovative aviation
products and provides services for the regional, business and
amphibious aircraft markets. It also offers Bombardier Flexjet(i)
and Bombardier Skyjet(i) business aircraft programs, technical
services, and aircraft maintenance and pilot training for
business, regional airline and military customers.
Bombardier Inc., a diversified manufacturing and services
company, is a world-leading manufacturer of business jets,
regional aircraft, rail transportation equipment and motorized
recreational products. It also provides financial services and
asset management in business areas aligned with its core
expertise. Headquartered in Montreal, Canada, the Corporation has
a workforce of some 75,000 people and manufacturing facilities in
25 countries throughout the Americas, Europe and Asia-Pacific.
Its revenues for the fiscal year ended Jan. 31, 2003 stood at
$23.7 billion Cdn. Bombardier shares are traded on the Toronto,
Brussels and Frankfurt stock exchanges (BBD, BOM and BBDd.F).
(i) Trademarks of Bombardier Inc. or its subsidiaries.
Photo: Robert Deluce, President and Chief Executive Officer, Regional
Airlines Holdings Inc. (left) and Pierre Beaudoin, President and
Chief Operating Oficer, Bombardier Aerospace, shake hands after
signing the Letter of Agreement to aquire 10 Bombardier Q400
airliners and take options on an additional 15. The Honorable Art
Eggleton, M.P. York Centre looks on in the background. |
