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Bombardier signs up to $7.8 bln order, largest business aircraft sale in its history  Join our daily free Newsletter

MENAFN - ProactiveInvestors - Australia - 28/11/2012

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The initial order is worth US$3.1 billion and will soar to $7.8 billion if all the options are exercised. Deliveries of these aircraft will begin in 2014, Bombardier said.
(MENAFN - ProactiveInvestors - Australia) Montreal-based train and plane maker Bombardier (TSE:BBD.B) saw its shares fly more than 7 per cent higher in Toronto Tuesday after it said it signed the largest business aircraft sale in its history.

British-based VistaJet has signed a deal for up to 142 Global Bombarider business jets, with firm orders for 56 Global-series aircraft, plus options for 86 more.

The initial order is worth US3.1 billion and will soar to 7.8 billion if all the options are exercised.

Deliveries of these aircraft will begin in 2014, Bombardier said.

"By any standard, this is a historic order for Bombardier. It goes without saying that we are thrilled VistaJet has again chosen to grow their fleet with the industry-leading Global family," said president of Bombardier business aircraft, Steve Ridolfi.

"We welcome VistaJet's ongoing commitment to global coverage within existing and developing new markets. Our Global aircraft are perfect for VistaJet's business strategy to deliver the ultimate business jet family to all corners of the world."

The order is part of VistaJet's expansion plan for business travel into emerging markets.

"Our customers need to fly point-to-point across the globe, and in many instances at short notice. Whether it's a direct flight from Los Angeles to Shanghai, from London to Luanda or from Kinshasa to Ulan Bator, we are seamlessly connecting our customers to every corner of the world in unrivalled levels of style and safety," said founder and chairman of VistaJet, Thomas Flohr.

"The BombardierGlobal aircraft are ideally suited to meet the demanding needs of both jet owner and customer alike."

The firm order comprises 25 Global 5000, 25 Global 6000 and six Global 8000 jets.

The Global 5000 jet can fly 9,630 km and connect London with San Francisco or London with Seoul, while the Global 6000 intrepid jet can link London with Tokyo or London with Mexico City non-stop, with eight passengers and three to four crew.

The Global 8000, which is currently under development and remains to be certified, will be the world's farthest-range business jet with 14,631 km. It will fly eight passengers between cities such as London and Adelaide, Hong Kong and New York, and Mumbai and Toronto.

Bombardier shares jumped 7.4 per cent on the news, lately changing hands around 3.35 this morning.


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