Lessor Palma Holding Limited has signed a letter of intent to order up to eight two-class Bombardier Q400 NextGen aircraft.
The agreement, announced at the Dubai Airshow 2013, would cover four firm-ordered aircraft and four options.
Palma Holding Limited intends to lease four of its Bombardier Q400 NextGen regional airliners to Ethiopian Airlines, which has already committed to take them.
Based on the list price, the potential contract value for Palma’s transaction covering four Q400 NextGen aircraft and four options would be approximately US$282 million, according to Bombardier Commercial Aircraft.
“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 of Palma Holding Ltd.
“We are working to conclude lease structures with interested airlines, including existing Q400 NextGen aircraft operator Ethiopian Airlines,” added Alaoui. “We have already concluded commitments with Ethiopian Airlines that will provide the carrier with additional development opportunities.”
Ethiopian Airlines currently operates a fleet that includes 13 Bombardier Q400 NextGen turboprop regional 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.