Breaking News
FONT-SIZE Plus   Neg
Share SHARE

Bombardier Inks Deal With Falko Regional For 24 CSeries Jets

Bombardier Inc. (BBD.B.TO) on Saturday, said its unit Bombardier Aerospace has signed two Letters of Intent with U.K. based Falko Regional Aircraft Limited for supply of up to 24 firm Bombardier CS100 mainline jets.

The financial details of the deal were not revealed.

Ray Jones, Senior Vice President, Sales, Marketing and Asset Management, Bombardier Commercial Aircraft, observed, "As a long-established leader and visionary in the commercial aircraft market, we are thrilled to welcome Falko to the CSeries aircraft family of customers and lessors. With its clean-sheet design aimed specifically for the 100- to 149-seat market, we are creating the future with the CSeries aircraft."

Jones added, "As the fourth lessor to recognize the CSeries aircraft's considerable market potential, Falko brings an impressive amount of knowledge and experience in placing aircraft in this market segment and we are pleased it has placed its confidence in the CS100 aircraft."

Falko, a global lessor, has recently placed Bombardier CRJ900 and CRJ900 NextGen aircraft with long-time Bombardier customers Mesa Airlines Inc. and Adria Airways, and has also acquired Q400 aircraft on lease to Croatia Airlines.

Mark Hughes, Executive Vice President, Corporate Finance, Falko Regional Aircraft Limited, said, "As we begin a period of worldwide growth and expansion with a strong pipeline of acquisitions, the CSeries aircraft will figure prominently in our plans. We are confident about its future and positioning in our core marketplace."

Falko said the year has been interspersed in building a solid relationship with Bombardier, having placed its regional jet and turboprop aircraft into its leasing portfolio. The agreement will see Bombardier's state-of-the-art CS100 aircraft introduced to portfolio.

Falko was formed in July 2011 following the management buy-in, led by Jeremy Barnes, of BAE Systems Asset Management and its associated aircraft portfolio. The company is involved in a growth strategy to expand the business and grow its portfolio of aircraft and services with particular focus on the regional aircraft market.

Bombardier closed Friday's regular trade at C$3.77, up C$0.01 or 0.27%, on a volume of 2.4 million shares on the TSE.

Register
To receive FREE breaking news email alerts for Bombardier Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
This apparel maker has doubled its earnings per share in just two years and increased its annual earnings forecast from time to time, despite a challenging consumer spending environment. Contributions from acquisitions, efficiency gains from self-owned global supply chain and benefits from 'Innovate-to-Elevate' strategy continue to boost the company's results. Here is a quick summary of the earnings reported after the bell on Nov 20. We have 20+ stocks listed here. The good news is you can skip this step. There is a next move that can make your life a lot easier. Our research team has already done the groundwork for you. All these stocks listed... Design software maker Autodesk, Inc. said Thursday after the markets closed that its third quarter profit fell 81% from last year, as higher costs and expenses more than offset an 11% increase in revenue. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.