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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.

by RTTNews Staff Writer

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