TORONTO, ONTARIO--(Marketwired - June 19, 2017) - Bombardier Commercial Aircraft announced today, from the International Paris Air Show, that it has signed an agreement with Philippine Airlines, Inc. for the exercise of its seven Q400 aircraft purchase rights. This latest rights exercise brings Philippine Airlines' total firm order to twelve Q400 aircraft. The original order for five firm Q400 with purchase rights for an additional seven was previously announced on December 8, 2016.
Based on the list price of the Q400 aircraft, the firm order is valued at approximately US $235 million.
"The Q400 aircraft have helped airlines around the world expand their networks, and capture new opportunities" said Fred Cromer, President, Bombardier Commercial Aircraft. "We are delighted that Philippine Airlines is growing its fleet with more Q400 aircraft, and are confident that the airline will benefit from the aircraft's outstanding economics and performance."
"As we position ourselves for growth, we are pleased to be adding more Q400 to our fleet," said Jaime J. Bautista, President & Chief Operating Officer, Philippine Airlines. "We are thrilled about the opportunities that lie ahead, and we look forward to offering more capacity and improving connectivity in the region with comfortable, fast and efficient regional aircraft like Bombardier's 86-seat turboprops."
The flag carrier of the Philippines is expected to take delivery of the world's first dual-class, 86-seat Q400 aircraft in July 2017.
Including this latest order, Bombardier has now recorded a total of 585 Q400 aircraft on firm order.
About Philippine Airlines
Philippine Airlines (PAL) is the flag carrier of the Philippines. Headquartered in Manila, PAL celebrates its 76thanniversary this year as the first commercial airline in Asia. Operating out of its hubs at Ninoy Aquino International Airport of Manila and Mactan-Cebu International Airport of Cebu with a fleet of 81 aircraft, PAL serves 30 destinations in the Philippines and over 45 destinations internationally.
About Bombardier
Bombardier is the world's leading manufacturer of both planes and trains. Looking far ahead while delivering today, Bombardier is evolving mobility worldwide by answering the call for more efficient, sustainable and enjoyable transportation everywhere. Our vehicles, services and, most of all, our employees are what make us a global leader in transportation.
Bombardier is headquartered in Montréal, Canada. Our shares are traded on the Toronto Stock Exchange (BBD) and we are listed on the Dow Jones Sustainability North America Index. In the fiscal year ended December 31, 2016, we posted revenues of $16.3 billion. News and information are available at bombardier.com or follow us on Twitter @Bombardier.
