Flybaboo SA will join growing list of Q400 operators
Bombardier Aerospace announced today that M1 Travel Ltd., one of the largest shareholders of Geneva, Switzerland-based Flybaboo SA, has placed a firm order for two Bombardier Q400 turboprop airliners and has taken options on an additional four. The Q400 aircraft will be operated by Flybaboo SA.
The value of the firm order contract is approximately $51 million US based on Q400 aircraft list prices.
Flybaboo, incorporated in August, 2003, has been operating two leased 50-seat Bombardier Q300 aircraft since its inception. The airline serves Geneva, Florence, Lugano, Prague, Ibiza, Valencia, St-Tropez, Venice and Nice.
"The Bombardier Q400 proved itself as the most economical aircraft in its class and has generated a large interest and demand among regional carriers, hence our confidence in the Q400 as a long-term investment," said Maher Mikati, Executive Director, M1 Travel Ltd.
“The Bombardier Q400 enables us to build on the current fleet of Q300 aircraft by offering more speed and seats which we require in order to grow our business,” said Julian Cook, Chief Executive Officer, Flybaboo. “In addition to its well-known qualities, the Q400 will be an easy transition from the Q300 as we take advantage of Q-Series family commonality.”
“We welcome Flybaboo to the growing list of Bombardier Q400 customers,” said Steven Ridolfi, President, Bombardier Regional Aircraft. “The Q400 is quite simply the new standard for regional air transport, a fact that is becoming more and more realized by the airline community.”
A world-leading manufacturer of innovative transportation solutions, from regional aircraft and business jets to rail transportation equipment, Bombardier Inc. is a global corporation headquartered in Canada. Its revenues for the fiscal year ended Jan. 31, 2006, were $14.7 billion US and its shares are traded on the Toronto Stock Exchange (BBD). News and information are available at www.bombardier.com.
About M1 Travel Ltd.
M1 Travel Ltd. is a wholly owned subsidiary of M1 Ltd. (Dubai). M1 Travel Ltd.’s objective is to invest in growing and well-managed travel and transportation businesses. Currently M1 Travel Ltd. is one of the largest shareholders of FlyBaboo, based in Geneva.
Bombardier, Q-Series, Q300 and Q400 are trademarks of Bombardier Inc. or its subsidiaries.