Chorus Aviation announces leasing transaction with Ethiopian Airlines
HALIFAX, Nov. 29, 2017 /CNW/ - Chorus Aviation Inc. ('Chorus') (TSX: CHR) announced today agreements to purchase two new Bombardier Q400 aircraft and lease them to Ethiopian Airlines Group ('Ethiopian Airlines'). The aircraft will be purchased new from Bombardier by a subsidiary of Chorus Aviation Capital and are expected to be delivered and placed on lease to Ethiopian Airlines in December 2017.
"Ethiopian Airlines is a premier, award-winning international airline with a terrific history of innovation, growth and economic success. We are absolutely delighted to welcome them as a customer of Chorus Aviation Capital and look forward to building this important relationship," commented Steve Ridolfi, President Chorus Aviation Capital. "Ethiopian is one of the largest and most profitable airlines in Africa, a member of the Star Alliance airline network, and the winner of numerous awards for airline management and customer service. We are honoured to add them to our growing portfolio of regional aircraft lessees and very pleased to extend our global reach to our sixth continent: Africa," he added.
"I am very pleased with the progress we have made in growing Chorus Aviation Capital's market position in regional aircraft leasing," stated Joe Randell, President and Chief Executive Officer of Chorus. "Upon completion of previously announced transactions, we'll have a leased aircraft fleet of 62 aircraft worth approximately CDN $1.2 Billion. We are building significant momentum in this business and look forward to additional future growth."
Bombardier and CemAir sign order for two new Q400 aircraft
Bombardier Commercial Aircraft announced today that CemAir (PTY) Ltd of South Africa has concluded a firm purchase agreement for two new Q400 turboprops, and has also signed the lease of a used Q400 aircraft that was delivered this month, paving the way for the new aircraft to be delivered afterwards. The letter of Intent (LOI) from CemAir, which was signed on June 21 at the 2017 Paris Air Show, has now been converted into a firm order.
Based on the list price of the Q400 aircraft, the firm order is valued at approximately $66 million US.
"We are delighted that CemAir has selected the Q400 aircraft to expand its fleet", said Jean-Paul Boutibou, Vice President, Sales, Middle-East and Africa at Bombardier Commercial Aircraft. "The Q400 is the next natural step in the growth of CemAir's fleet of Bombardier CRJ Series and Q Series aircraft, as it brings more flexibility to increase the capacity on key routes while their aircraft's superior performance and unbeatable economics support CemAir's growing market position against competitive forces. The Q400 will open several market opportunities to CemAir on domestic and future regional routes."
"CemAir has enjoyed significant growth in the last few years and this has come from our focused approach on selecting the right aircraft for our operation", said Miles van der Molen, CEO, CemAir. "The Q400 is a fantastic performer especially in our environment of high altitudes and hot operating temperatures. It is really an unbeatable turboprop that brings so many jet-like features to ensure a competitive and operational advantage in our market. We see the Q400 as the ideal growth solution for our scheduled and charter operations as we continue to strengthen our relationship with Bombardier. We are working to expand our scheduled operations beyond South Africa and continuing to support new opportunities across the continent."
With these Q400 aircraft, CemAir would increase its current fleet of Bombardier aircraft to 17 - including five Q Series turboprops and 12 CRJ Series aircraft. CemAir recently added a used CRJ900 aircraft to its fleet, the first in South Africa.
57 - DHC-8-102 C-GANS North Bay Leasing Ltd., North Bay, ON
Registered to Wasaya Airways LP, Thunder Bay, ON 28-Nov-2017.
134 - DHC-8-102 N933HA Avmax Aircraft Leasing Inc., Calgary, AB [WFBNW]
Flew Roswell, NM - Great Falls, MT 28-Nov-2017 on delivery.
4103 - DHC-8-402 ZS-DHD CemAir Pty Ltd., Johannesburg
Flew Toronto-Pearson, ON - Gander, NL - Santa Maria -Tenerife-Sur - Accra - Johannesburg 25/28-Nov-2017 on delivery. The aircraft is the former G-JECH of Flybe.