- Transaction is Porter’s fourth conversion of options this year
Bombardier Aerospace announced today that Porter Airlines of Toronto has signed a contract to acquire two 70-seat Q400 turboprop airliners by converting existing options. This conversion of options to firm orders is the fourth completed by Porter this year and these Q400 aircraft will become the 17th and 18th in the airline’s fleet. Porter’s original order for 10 firm and 10 options was announced in 2006.
Based on the list price for the Q400 aircraft, the value of the contract is approximately $52 million US.
“The Q400 airliner continues to deliver the operating economics, performance and passenger comfort that we anticipated when we placed our original order in 2006,” said Robert Deluce, President and Chief Executive Officer, Porter Airlines. “We are now well on our way to increasing the number of markets we serve to at least 17.”
“The backlog for our Q400 airliner has surpassed 100 and demand for the aircraft continues to be strong,” said Gary R. Scott, President, Bombardier Commercial Aircraft. “The Q400 airliner’s quiet performance, 360-knot (667 km/h) cruise speed, fuel efficiency and lower emissions position it as the benchmark aircraft for short-haul travel.”
Porter Airlines currently operates six Q400 aircraft from its base at the Toronto City Centre Airport. The Q400 airliner is ideally suited to this downtown airport and Porter was recently recognized by Bombardier for achieving dispatch reliability rates exceeding 99 per cent in 2007.
With this order, Bombardier has now recorded firm orders for a total of 322 Q400 and Q400 NextGen airliners, with 210 delivered as of July 31, 2008.
A world-leading manufacturer of innovative transportation solutions, from commercial aircraft and business jets to rail transportation equipment, systems and services, Bombardier Inc. is a global corporation headquartered in Canada. Its revenues for the fiscal year ended Jan. 31, 2008, were $17.5 billion US, and its shares are traded on the Toronto Stock Exchange (BBD). Bombardier is listed as an index component to the Dow Jones Sustainability World and North America indexes. News and information are available at www.bombardier.com.
Bombardier, Q400 and NextGen are trademarks of Bombardier Inc. or its subsidiaries.
Notes to Editors
Images of Porter Airlines Q400 aircraft are available in the press releases section at: www.aero.bombardier.com