Toronto, January 5, 2014 – GE Capital Aviation Services (“GECAS”) has signed a firm purchase agreement with Bombardier Commercial Aircraft for five Q400 NextGen aircraft and has also taken options on an additional 10 Q400 NextGen aircraft.
Based on the list price of the Q400 NextGen aircraft, the firm order is valued at approximately $160 million US. The value could increase to $448 million US should GECAS exercise all its options.
"As we continue to grow our leasing fleet, we are pleased to be adding up to 15 more Q400 NextGen aircraft," said Norman C.T. Liu, President and CEO, GECAS. "We have seen a growing demand for turboprop aircraft worldwide, and the Q400 NextGen aircraft is ideally positioned to meet the needs of regional airlines now and in the future. Our customers value the performance, operating efficiency, and flexibility that this aircraft provides."
“We are delighted that GECAS has chosen to acquire additional Q400 NextGen aircraft,” said Mike Arcamone, President, Bombardier Commercial Aircraft. “With the world’s largest leased commercial aircraft fleet, GECAS’ continued acquisition of the Q400 NexGen turboprop is a strong endorsement of the value, in-service performance and reliability the aircraft provides.”
About GE Capital Aviation Services (GECAS)
GECAS, the U.S. and Irish commercial aircraft financing and leasing business of GE, has a fleet of approximately 1,600 owned and serviced aircraft with 230 customers. With 40+ years of industry experience, GECAS is recognized as the pre-eminent airline leasing company in the world, offering a wide range of aircraft types and financing options, including operating leases and secured debt financing. GECAS also provides an ever expanding array of productivity solutions including spare engine leasing, aviation consulting services, and spare parts financing and management. GECAS, a unit of GE Capital, has offices in 23 cities around the world, and services customers in 75+ countries. (www.GECAS.com)