Leasing companies increasingly recognizing the Q400 NextGen turboprop as a high-quality asset
TORONTO, ONTARIO -- (Marketwired) -- Bombardier Commercial Aircraft officially welcomed Investec Bank plc ("Investec") to the family of Q400 aircraft lessors as Thai premium low-cost carrier Nok Air and the international bank and asset manager closed the sale and leaseback of two extra capacity Bombardier Q400 NextGen airliners. The 86-seat aircraft recently joined the carrier's fleet as part of a purchase agreement for up to eight Q400 NextGen turboprops, six of which are firm.
Investec was established in 1974 and its current market capitalization is approximately £3.6 billion GBP ($5.63 billion US).
"Our business plan has always been focused on serving the needs of select markets where we can compete effectively, supported by a client-centric approach and an ability to be nimble, flexible and innovative," said Ramki Sundaram, Head of Aviation, Investec. "Bombardier's new-technology Q400 NextGen turboprop, with its remarkable operational flexibility and passenger comfort, as well as Nok Air's customer focus and creative market leadership, are in perfect alignment with Investec's strategy and vision. We are extremely pleased with our purchase, and delighted to support Nok Air's growth."
"We are glad to welcome Investec as yet another lessor to the Q400 aircraft program. With its capability to be easily configured and retrofitted in various seating and cargo arrangements - extra capacity seating for unbeatable operating seat cost advantage, cargo-passenger combi for increased payload capability, and dual-class for superior comfort - the Q400 NextGen turboprop has gained further in value retention and liquidity," said Ray Jones, Senior Vice President, Sales, Marketing and Asset Management, Bombardier Commercial Aircraft.
"Leasing companies are increasingly recognizing the outstanding versatility, in-service performance and reliability of the Q400 NextGen aircraft, making it an attractive financing and leasing opportunity as well as a high-quality asset," he added.
About Q400 NextGen aircraft
Optimized for short-haul operations, the Q400 NextGen aircraft is a large, fast, quiet and fuel-efficient turboprop. It provides the perfect balance of passenger comfort and operating economics with a reduced environmental footprint.
The Q400 NextGen aircraft is the fastest new-technology turboprop, providing both jet speed and turboprop fuel efficiency. The aircraft's economics and operational flexibility allow airlines to profitably deploy it in a variety of ways to serve typical short-haul turboprop routes, as well as medium-haul jet markets.
Q400 NextGen aircraft are available with an optional dual-class interior for enhanced passenger comfort; an optional extra-capacity configuration with up to 86 seats for high-density markets; and a cargo-passenger combi configuration.
As of September 30, 2014 Bombardier had recorded firm orders for a total of 514 Q400 and Q400 NextGen aircraft. 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 million take-offs and landings. The Q400 and Q400 NextGen aircraft program includes over 50 customers and operators in close to 40 countries on five continents.
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 Montreal, 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, 2013, we posted revenues of $18.2 billion. News and information are available at bombardier.com or follow us on Twitter @Bombardier.
Notes to editors
Images of Q400 NextGen aircraft in Nok Air's livery are posted with this press release at bombardier.com
Additional information on the Q400 NextGen aircraft is available at www.q400nextgen.com.
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Bombardier, NextGen, Q400 and The Evolution of Mobility are trademarks of Bombardier Inc. or its subsidiaries.