|By Marketwired .||
|July 14, 2014 06:43 AM EDT||
MONTREAL, QUEBEC -- (Marketwired) -- 07/14/14 -- Farnborough Airshow - Bombardier Aerospace announced today that Zhejiang Loong Airlines Co., Ltd. (Loong Air) has signed a Letter of Intent to acquire 20 CS100 airliners. The operator, based in Hangzhou, the capital city of Zhejiang province, China began domestic service in 2013.
Based on the list price for the CS100 aircraft, a firm order for 20 CS100 aircraft would be valued at approximately $1.28 billion US.
"The CSeries airliner is the right size aircraft to allow for profitable growth as Loong Air seeks to expand its network and provide improved connectivity and frequencies to an increasing number of domestic travelers," said Liu Qihong, Chairman, Loong Air. "With its clean-sheet design and leading-edge technology, Bombardier's CSeries family of airliners provides a distinct economic advantage."
"The growing diversity of operators in both our traditional and growth markets who are centering business cases around the use of the CSeries jetliners is a testament to the aircraft's unmatched flexibility and outstanding operational efficiencies," said Ray Jones, Senior Vice President, Sales, Marketing and Asset Management, Bombardier Commercial Aircraft.
"We are thrilled that Loong Air has selected the CS100 aircraft to execute on its expansion strategy," added Andy Solem, Vice President, Sales, China and Asia-Pacific. "We intend to actively support Loong Air in opening new markets profitably thanks to the CSeries airliner's low operating costs and look forward to the CSeries aircraft taking to the skies of China."
About CSeries aircraft
Bombardier is creating the future with its CSeries aircraft - the only 100 per cent new family of airliners specifically designed for the 100- to 149-seat, single-aisle market. Benefitting from a clean-sheet design that includes leading-edge technology and systems integration, advanced materials and latest-generation aerodynamics, the CSeries aircraft offer a 15 per cent(i) cash operating cost advantage, a 20 per cent(i) fuel burn advantage, exceptional operational flexibility, widebody comfort and an unmatched environmental and noise footprint.
The CS100 aircraft offers unmatched flexibility for many airline business models and is an ideal solution for hot-and-high and city-centre airport operations.
Including Loong Air's LOI, Bombardier has booked orders and commitments for 495 CSeries aircraft, which include firm orders for 203 CSeries airliners.
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 CSeries aircraft are posted with this news release at www.bombardier.com. Additional images and videos of CSeries aircraft are available in the CSeries Hub at cseries.com. B-roll is available at bcamediafootage.com.
Please visit Bombardier's Web site dedicated to its upcoming events at the Farnborough International Airshow at airshows.bombardier.com.
Follow @Bombardier_Aero on Twitter to receive the latest news and updates from Bombardier Aerospace.
(i) The CSeries aircraft are in the development phase. All data and specifications are estimates, subject to changes in family strategy, branding, capacity and performance during the development, manufacture and certification process. All performance references have been estimated based on a 500-nm North American operating environment and comparisons are to in-production aircraft.
Bombardier, CS100, CSeries and The Evolution of Mobility are trademarks of Bombardier Inc. or its subsidiaries.
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