CIB Leasing Converts CRJ Series Order to Add Five 90-Seat Q400

Bombardier Commercial Aircraft and Industrial Bank Financial Leasing Co., Ltd (CIB Leasing) announced today that the parties have agreed to convert a previously announced order for 10 Bombardier CRJ Series aircraft to five 90-seat Bombardier Q400 turboprops, and five Bombardier CRJ900 regional jets.

“As we work alongside CIB Leasing to explore market opportunities for regional fleet growth and network expansion in Asia, we are pleased to see that more 90-Seat Q400 turboprop will be available in the region,” said Fred Cromer, President, Bombardier Commercial Aircraft. “With 15 percent lower cost per seat than the 78-seat version, our 90-seat turboprop aircraft has unique capabilities and unbeatable productivity, and we are confident that our leasing partner and potential operators will extract tremendous value from it.”

This converted purchase agreement, based on list price, is valued at about US$ 420 million.

With over 69,500 employees across four business segments, Bombardier is a global leader in the transportation industry, creating innovative and game-changing planes and trains. Our products and services provide world-class transportation experiences that set new standards in passenger comfort, energy efficiency, reliability and safety.

Headquartered in Montreal, Canada, Bombardier has production and engineering sites in 28 countries across the segments of Transportation, Business Aircraft, Commercial Aircraft and Aerostructures and Engineering Services. Bombardier shares are traded on the Toronto Stock Exchange (BBD). In the fiscal year ended December 31, 2017, Bombardier posted revenues of $16.2 billion US. News and information are available at bombardier.com