Bombardier Aerospace
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Bombardier Aerospace
Flexjet, LLC

Flexjet, LLC

November 17, 2015 14:45 ET

Flexjet, LLC Signs Memorandum of Understanding to Purchase 20 Bombardier Challenger 350 Aircraft

Bombardier aircraft have formed the backbone of Flexjet's offering for two decades

LAS VEGAS, NEVADA--(Marketwired - Nov. 17, 2015) - Bombardier Business Aircraft announced today that it has signed a Memorandum of Understanding (MOU) with Flexjet, LLC of Richardson, Texas, to purchase 20 Challenger 350 aircraft. The transaction is valued at approximately $544 million US, based on the current list price for standard-equipped aircraft.

Fractional ownership pioneer Flexjet, LLC ranks as one of the world's largest providers of private jet travel, and Bombardier business aircraft have formed the backbone of Flexjet's offering since the company was founded two decades ago. Offering travellers access to the world's most luxurious fleet of private jets, Flexjet's fleet features some of the youngest aircraft in the fractional jet industry with an average age of approximately six years, including Challenger 350 aircraft custom outfitted with Flexjet-branded LXi Cabin Collection ultra-luxurious interiors.

"Today's announcement is a further endorsement of our incomparable Challenger 350 aircraft," said David Coleal, President, Bombardier Business Aircraft. "Flexjet is one of our most valued customers, and we are pleased that our Challenger 350 aircraft, built for optimal comfort and performance, will add to Flexjet's continued growth and success."

"We are experiencing growing demand in the super midsize segment, where owners are seeking more spacious and luxurious cabins, coupled with greater speed and range," said Michael Silvestro, Flexjet's Chief Executive Officer. "Our owners have already expressed their appreciation for the luxurious comfort and superior performance of the Challenger 350 aircraft, and we look forward to offering them more options for an outstanding experience."

Challenger 350 aircraft: The Challenger 350 jet boasts class-defining performance, a true seats full, tanks full, 3,200 NM (5,926 km) range that will connect New York City with London*. The Challenger 350 jet builds upon the legendary segment defining clean-sheet Challenger 300 jet. Not only does it feature the very latest in avionics functionality, but it also offers the segment's most advanced cabin that maximizes natural light and redefines interior comfort and design sophistication, all the while maintaining the performance attributes that have become synonymous with the Challenger family.

About Flexjet

Flexjet, LLC first entered the fractional jet ownership market in 1995, and celebrated its 20th anniversary in May 2015. Flexjet offers fractional jet ownership and leasing. Flexjet's fractional aircraft program is the first in the world to be recognized as achieving the Air Charter Safety Foundation's Industry Audit Standard, and Flexjet is the first and only company to be honored with its 16th FAA Diamond Award for Excellence. Flexjet's fractional program fields an exclusive array of business aircraft-some of the youngest in the fractional jet industry, with an average age of approximately six years-including their LXi Cabin Collection consisting of the Learjet 75, Challenger 350, the Embraer Legacy 450, Global Express and the Gulfstream G450, G500 and G650 business jets. In addition, the overall jet collection includes the Embraer Phenom 300, Challenger 300 and Challenger 605. Flexjet is a member of the Directional Aviation family of companies. For more details on innovative programs and flexible offerings, visit www.flexjet.com or follow us on Twitter @Flexjet.

About Bombardier

Bombardier is the world's leading manufacturer of both planes and trains. Looking far ahead while delivering today, Bombardier is evolving mobility worldwide by answering the call for more efficient, sustainable and enjoyable transportation everywhere. Our vehicles, services and, most of all, our employees are what make us a global leader in transportation.

Bombardier is headquartered in Montréal, Canada. Our shares are traded on the Toronto Stock Exchange (BBD) and we are listed on the Dow Jones Sustainability North America Index. In the fiscal year ended December 31, 2014, we posted revenues of $20.1 billion. News and information are available at bombardier.com or follow us on Twitter @Bombardier.

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*Under certain operating conditions.

Bombardier, Bombardier Business Aircraft, Challenger, Challenger 300, Challenger 350, Challenger 605, Global, Global Express, Learjet, Learjet 75, and The Evolution of Mobility are trademarks of Bombardier Inc. or its subsidiaries.

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