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Bombardier Aerospace announced today that Smart Aviation Company of Cairo, Egypt has signed a firm order to acquire two Q400 NextGen turboprop aircraft, and has also taken options on an additional three Q400 NextGen aircraft.
Based on the list price for the Q400 NextGen aircraft, the value of the firm order is approximately $62 million US, which could increase to $158 million US should all three options be converted to firm orders.
A corporate jet aircraft charter operator since its founding in May of 2007, Smart Aviation has formed a commercial airline subsidiary and will use its Q400 NextGen aircraft to launch scheduled and charter services to complement its corporate aircraft activities throughout the Middle East.
"Middle East tourism and business travel are growing steadily and we want to be in a position to meet this growth with efficient, reliable, economical and passenger-friendly aircraft," said Wael El-Maadawy, Chairman and Managing Director, Smart Aviation Company. "Bombardier turboprop aircraft have excelled on these attributes in the Middle East operating environment for several years, so the Q400 NextGen aircraft was the first choice for our new service."
"The Q400 NextGen aircraft is optimized for the intra-regional, shorter routes in the expanding North African and Middle Eastern travel market," said Gary R. Scott, President,
Bombardier Commercial Aircraft. "We at Bombardier are confident that the Q400 NextGen aircraft is well-suited to Smart Aviation's new venture and welcome the company to the growing family of Q400 NextGen aircraft operators."
Optimized for short-haul operations, the "comfortably greener," 70- to 80-seat Q400 NextGen aircraft is a large, fast, quiet and fuel-efficient turboprop. It provides an ideal balance of passenger comfort and operating economics with a reduced environmental footprint. Including Smart Aviation's order, Bombardier has booked firm orders for a total of 391 Q400 and Q400 NextGen aircraft, and as of April 30, 2010, 300 had been delivered. The aircraft are in service with more than 30 operators worldwide.
A world-leading manufacturer of innovative transportation solutions, from commercial aircraft and business jets to rail transportation equipment, systems and services, Bombardier Inc. is a global corporation headquartered in Canada. Its revenues for the fiscal year ended Jan. 31, 2010, were $19.4 billion, and its shares are traded on the Toronto Stock Exchange (BBD). Bombardier is listed as an index component to the Dow Jones Sustainability World and North America indexes. News and information are available at www.bombardier.com (http://www.bombardier.com) .
Note to editors
Images of Q400 NextGen aircraft are available in the press releases section at: www.aero.bombardier.com (http://www.aero.bombardier.com) .
Bombardier, NextGen and Q400 are trademarks of Bombardier Inc. or its subsidiaries.