MONTREAL — — A new Europeanprivate jet company is behind an order for up to 110 Learjet aircraftworth as much as $1.5-billion (U.S.) forBombardier Inc., marking the third large business jet order received in the past year.
The Montreal-based aircraft manufacturer announced the order in June, but declined to name the buyer.
Jet Republic, which is backed by Austria's Euram Bank, says it has ordered 25 Learjet 60 XR, with options for 85 more.
The jet company, based in Lisbon, will sell fractional ownershipand flying cards to business customers in a bid to compete with NetJetsEurope. It will begin service to more than 1,000 European airportsusing chartered aircraft until the first Bombardier planes aredelivered next year.
Bombardier spokeswoman Danielle Boudreau said the order confirmsthe popularity of business jets as a time-saving tool for executives.
"It shows the popularity of our aircraft and also the importance of having the right mix," she said in an interview.
The Jet Republic order comes after California-based XOJet ordered80 Challenger 300 planes last year. That deal is valued at $1.9-billionif all options are exercised.
Swiss-based VistaJet's potential order worth $1.2-billion included Learjet 60 XR, Learjet 85s and Challenger 605s.
Jet Republic is headed by Jonathan Breeze, a 36-year-old former British RAF pilot.
In published reports, Mr. Breeze said the private jet market isenjoying strong growth despite the record high price of jet fuel.
"This, coupled with the fact that we believe there is significantroom for improvement in the level of service provided by the privatejet aviation sector, means there is a very strong and real opportunityfor us to take a significant share of this market," he said.
© Canadian Press