Lessor Palma Holding Limited Signs for up to Eight new Bombardier Q400 NextGen Aircraft

DUBAI, UNITED ARAB EMIRATES--(Marketwired - Nov. 18, 2013) - Bombardier Aerospace today announced that Palma Holding Limited (Palma) has signed a letter of intent to acquire up to eight dual-class Q400 NextGen aircraft. The agreement would cover four firm-ordered aircraft and four options. Palma intends to lease four aircraft to Ethiopian Airlines.

Based on the list price, the potential contract value for Palma's transaction covering four Q400 NextGen aircraft and four options would be approximately $282 million US.

"We are very pleased to become the first Middle Eastern lessor for Bombardier's Q400 NextGen aircraft, and the first lessor worldwide for the aircraft's dual-class configuration," said Moulay Omar Alaoui, President, Palma Holding Ltd. "We are working to conclude lease structures with interested airlines including existing Q400 NextGen aircraft operator Ethiopian Airlines. We have already concluded commitments with Ethiopian Airlines that will provide the carrier with additional development opportunities."

"Our customers' success with their Q400 NextGen aircraft in the Middle East and Africa is testament to the aircraft's unique ability to serve the diverse and challenging environment in the region," said Mike Arcamone, President, Bombardier Commercial Aircraft.

"In addition, the Q400 NextGen aircraft's comfortable, quiet cabin provides an excellent experience for passengers; and the dual-class option allows flexible integration into carrier's network operations by providing seamless business class service to passengers," commented Mr. Arcamone.

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

About Q400 NextGen aircraft

The Q400 NextGen turboprop is the most recent development in the evolution of the Q400 aircraft and the advanced successor to Bombardier's Dash 8/Q-Series family of aircraft. 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.

The Q400 NextGen aircraft is ideally suited to the Middle East and Africa because of its outstanding capabilities, including its hot and high performance; ability to operate from unpaved runways; jet-like speed of 360 knots (667 km/h) that allows it to easily maintain jet schedule; range capability of 1,114 nm (2,063 km); and advanced avionics that offers pilots enhanced situational awareness and flexibility.

Worldwide, Q400 and Q400 NextGen aircraft have transported more than 295 million passengers and have logged over 4.7 million flight hours and more than 5.0 million take-offs and landings. The Q400 and Q400 NextGen aircraft program includes some 50 customers and operators in over 30 countries on five continents.

About Bombardier

Bombardier is the world's only 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 World and North America Indexes. In the fiscal year ended December 31, 2012, we posted revenues of $16.8 billion. News and information are available at bombardier.com or follow us on Twitter @Bombardier.

Notes to Editors

Images of Q400 NextGen aircraft in Bombardier's livery are posted with this press release at www.bombardier.com.

Additional information on the Q400 NextGen aircraft is available at www.q400nextgen.com.

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