Lessor Palma Holding Limited Places Firm Order for up to eight Bombardier Q400 NextGen Aircraft

Bombardier Aerospace today announced that lessor Palma Holding Limited (Palma) has signed a firm purchase agreement for four dual-class Q400 NextGen aircraft. The agreement, which also includes options for an additional four Q400 NextGen aircraft, follows a letter of intent to acquire the aircraft that Bombardier announced on November 18, 2013. Under a joint venture with Ibdar Bank BSC, Palma intends to lease four of the Q400 NextGen aircraft to Ethiopian Airlines.

Photo Credit: Bombardier Aerospace

As previously announced, based on list price, the contract value for Palma’s transaction covering four Q400 NextGen aircraft and four options is approximately $282 million US.
“The two-class configured Q400 NextGen aircraft provides customers like Ethiopian Airlines with operational flexibility, as well as excellent route and lease structures prospects – we look forward to joining the Bombardier family,” said Moulay Omar Alaoui, President, Palma Holding Ltd. “The addition of the Q400 NextGen airliner to our portfolio will present many exciting business development opportunities for our customers.”

“I am delighted to welcome Palma as the first Middle Eastern lessor for the Q400 NextGen aircraft, and the first lessor worldwide for the aircraft’s dual-class configuration,” said Mike Arcamone, President, Bombardier Commercial Aircraft. “As momentum for the Q400 NextGen aircraft continues to build in the Middle East, Africa and elsewhere, we look forward to adding many more operators to the family of 50 that are presently deriving excellent benefits from the aircraft’s operational flexibility, outstanding performance, passenger amenities and environmental credentials.”


Ethiopian Airlines currently operates a fleet that includes 13 Q400 NextGen airliners. Bombardier’s presence in the Middle East and Africa currently includes more than 200 Dash 8/Q-Series turboprops, CRJ regional jets and CSeries single-aisle, mainline aircraft in service or on firm order.

Bombardier Aerospace

Exciting and Productive Week for Bombardier Aerospace at the Singapore Airshow

• Confirms two previously unidentified airlines: Garuda Indonesia and Ethiopian Airlines
• Announces OEM-owned service centre in Singapore for business aircraft; and Singapore-based commercial aircraft sales office
• Also announces order for two Q400 NextGen by Horizon Air
• Attracts significant interest with its business aircraft on static 

Bombardier Aerospace wrapped up its participation at the Singapore Airshow after an exciting and busy week during which it revealed the identity of two key airlines that had placed orders for its proven CRJ1000 NextGen regional jet and fuel-efficient Q400 NextGen turboprop as well as announced an order for two Q400 NextGen aircraft. It also took advantage of the airshow to announce the establishment of a Bombardier-owned service centre in Singapore for business aircraft, as well as the official opening of a sales and marketing office in Singapore for commercial aircraft.

Key commercial aircraft airlines identified

On February 15, during a joint press briefing in its CSeries aircraft dome filled to capacity, Bombardier and Indonesian flag carrier PT. Garuda Indonesia (Persero) Tbk. confirmed that the airline is the unidentified customer whose order for six CRJ1000 NextGen regional jets and 18 options was announced on February 10, 2012. The aircraft’s superior economics, outstanding fuel economy and excellent passenger comfort will meet the airline’s requirement for 100-seat aircraft to service domestic and regional markets from its five regional hubs and will be integral to its expansion and growing markets. Garuda Indonesia also took the opportunity to announce that it plans to acquire an additional 12 CRJ1000 NextGen aircraft from a lessor.

This announcement was followed the next day, on February 16 with the confirmation that Ethiopian Airlines,
one of Africa’s leading airlines, is the customer that placed the firm order for five Q400 NextGen airliners announced on February 13, 2012. The modern turboprop’s high rate of climb, single-engine service ceiling and higher take-off weight, thus greater payload, were key attributes for the airline which flies out of high altitude-hot weather airports.

On February 16, Bombardier also announced that Horizon Air of Seattle, Washington had signed a firm purchase agreement for two Q400 NextGen airliners. The airline, member of the Alaska Air Group, is the largest operator of Q400 and Q400 NextGen aircraft in the Americas. With this order, it is restating its long-standing confidence in the aircraft’s superior fuel efficiency as well as its jet-like comfort.

“Key to our success this year will be our ability to expand our global reach and gain traction in new and exciting markets,” said Guy C. Hachey, President and Chief Operating Officer, Bombardier Aerospace. “Our success at the Singapore Airshow is a testament to the results being achieved in this regard. I am very proud of the results our team has achieved so early on in the year. Our prospects for the rest of the year look great,” he added.

Opening of OEM-owned service centre in Singapore

On February 15, Bombardier announced that it will open a full-scale company-owned and operated service centre in Singapore in 2013. This new service center will ensure that Bombardier Learjet, Challenger and Global business jets customers have an even broader access to Original Equipment Manufacturer-backed service in the Asia-Pacific region in their own time zone and in their own region.

Sustained activity for Bombardier business aircraft

Bombardier Business Aircraft attracted continued significant interest in the region, reflecting the dynamism and rapid growth of the business jet market in the Asia-Pacific region. A Learjet 60 XR aircraft, a Challenger 605 jet and a Global 5000 jet from its product portfolio were on static display at the airshow, drawing the crowd’s attention.

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The Q400 NexGen (Next Generation) is a fuel-efficient, regional size turboprop jet. Get More information on the Q400 Next gen webpage