in Air Transport / Business & Finance

Palma leasing four Q400s to Ethiopian Airlines

Posted 5 February 2014 · Add Comment

Palma Holding Limited (Palma) has signed a firm purchase agreement for four dual-class Q400 NextGen aircraft with Bombardier - with options on four more - which it will lease to Ethiopian Airlines.

Ethiopian Airlines currently operates a fleet that includes 13 Q400 NextGen airliners.

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 18 November, 2013. Under a joint venture with Ibdar Bank BSC, Palma intends to lease four of the Q400 NextGen aircraft to Ethiopian Airlines.

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.

“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.”

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.
 

* required field

Post a comment

Other Stories
Latest News

Ethiopian to start Flights to Barcelona

Ethiopian Airlines has finalised preparations to launch new flight services to Barcelona, Spain as of July 01, 2018, deploying the ultra-modern B787– 800 Dreamliner.

Livingstone right to presumes it could have a great future

Victoria Falls is one of Africa’s greatest tourist attractions and Zambia has been investing in its airport at Livingstone, which bears the name of a national hero. Humphrey Nkonde reports.

Airbus A330neo en route to function and reliability tests

The A330neo, Airbus’ newest widebody aircraft, has embarked on a worldwide tour to demonstrate its readiness for airline operations.

African Air Expo to take place in November

African Air Expo will take place at King Shaka International Airport in Durban between November 27-29, 2018.

Airbus and Cote d'Ivoire sign deal to boost the West African country's aerospace future

Côte d’Ivoire and Airbus have signed an MoU to establish a framework of collaboration to support the development of the country’s aerospace industry which has been identified as strategic for its economic development.

Pegasus Airlines signs codeshare agreement with Nile Air

Pegasus has signed a codeshare agreement with Nile Air.

TAA SK0902311218
See us at
GroundHandling BT2205130918AAD2018 BTAirCargoAFA_BT220318210219