LOI 30 Q400 Momentum In China Continues For Bombardier As Nantong Tongzhou Bay Aviation Industry Co., Ltd. Signs Letter Of Intent For 30 Q400 NextGen Turboprops
- Landmark deal marks Q400 NextGen aircraft's entry as largest turboprop in China
Thursday, December 05, 2013
Momentum in China Continues for Bombardier as Nantong Tongzhou Bay Aviation Industry Co., Ltd. Signs Letter of Intent for 30 Q400 NextGen Turboprops
23:24 EST Thursday, December 05, 2013
TORONTO, ONTARIO--(Marketwired - Dec. 5, 2013) - Bombardier Aerospace announced today that Nantong Tongzhou Bay Aviation Industry Co., Ltd. ("Nantong Tongzhou Bay Aviation") has signed a letter of intent (LOI) to acquire 30 firm Q400 NextGen aircraft, as it prepares to launch commercial airline operations in China through an airline to be named "Sutong Airlines." Sutong Airlines, to be based in Nantong, Jiangsu plans to operate an all-Bombardier fleet of Q400 NextGen airliners when it starts operations in 2015.
Based on Q400 NextGen aircraft list price, a firm order would be valued at approximately $995 million US.
"With its regional aviation model set to revolutionize air service in Jiangsu, one of China's most affluent and fast-growing provinces, Sutong Airlines will not only make traveling increasingly convenient for the people of Jiangsu, but will also bring tremendous economic benefits to the economies and communities of the province," said Zhou Binzhen, President, Nantong Tongzhou Bay Aviation Industry Co., Ltd. "Bombardier's Q400 NextGen airliner fulfills our business plan requirement for a high-performance regional aircraft that is fast, reliable, economical and comfortable."
"As the sole aircraft manufacturer with three distinct and optimized families of aircraft in the regional and single-aisle market segments of up to 149 seats, Bombardier is pleased to support China's five-year plan that calls for the expansion of regional airlines," said Mike Arcamone, President, Bombardier Commercial Aircraft. "We are thrilled that Nantong Tongzhou Bay Aviation is looking to the Q400 NextGen aircraft to establish Sutong Airlines' operations, and we look forward to supporting the up-and-coming airline in supplying regional air transportation service that will allow ease of movement within China."
"The Q400 NextGen turboprop is ideally-suited to service China's vast geography, delivering unbeatably low operating costs, superb reliability to support high utilization operations, high payload capability and excellent short-haul range. We welcome Nantong Tongzhou Bay Aviation and Sutong Airlines as it works to bring much needed connectivity to the Jiangsu province's markets," added Andy Solem, Vice President, Sales, China and North Asia, Bombardier Commercial Aircraft.
As of September 30, 2013 Bombardier had booked 476 firm orders for Q400 and Q400 NextGen turboprops.