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Lease Corporation International Group Orders 20 Bombardier CSeries Jetliners With Options to Purchase a Further 20

Written by thomas · Filed Under Commercial 

March 30, 2009

thomas

First Leasing Company Customer for CSeries Aircraft

TORONTO, ONTARIO–(Marketwire – March 30, 2009) – Bombardier Aerospace announced today that Lease Corporation International Aviation (New Buildings) Limited has signed a firm purchase agreement for three CS100 and 17 CS300 jetliners. The purchaser, which also took options on a further 20 CSeries aircraft, is a wholly owned subsidiary of Lease Corporation International Limited (LCI). LCI is a privately owned aircraft leasing company that owns and leases planes to major airlines.

Based on list prices, the firm order for 20 CSeries aircraft is valued at approximately $1.44 billion U.S.

“This firm order for both CS100 and CS300 aircraft adds to the momentum we anticipated for CSeries aircraft following the initial firm order by Deutsche Lufthansa AG. Moreover, LCI’s purchase confirms the flexibility designed into this technologically advanced aircraft family as required by all our customers, but especially leasing companies,” said Gary R. Scott, President, Bombardier Commercial Aircraft. “We are grateful for LCI’s confidence in the CSeries aircraft and delighted to welcome them as the launch leasing company customer. We look forward to working with them on further development of the aircraft for its entry into service in 2013.”

“We are excited about the future of Bombardier’s CSeries jetliner family,” said LCI Chairman, Adam Tomazos. “Market studies carried out by ourselves and other organizations see a large worldwide demand for aircraft in the 100- to 149-seat category over the next two decades and the CSeries jetliner family is a perfect fit.”

The launch of the CSeries family of aircraft was announced at the Farnborough Air Show on July 13, 2008.

The 110-seat and 130-seat CSeries family of aircraft brings unmatched passenger comfort, performance, and operating economics, benefiting from the latest technological advancements, including: fourth-generation aerodynamics; increased use of composites and advanced aluminium alloy in structures; the very latest in system technologies, such as fly-by-wire, electric brakes, and a next-generation engine – the Pratt & Whitney PurePowerTM PW1000G engine. PurePowerTM represents a significant breakthrough in turbofan technology, especially on the environmental front where it will set new benchmarks from dramatically reduced fuel burn, noise, and emissions.

At time of entry into service in 2013, the CSeries family of aircraft will be the greenest single-aisle aircraft in its class. These game-changing aircraft will emit 20(i) per cent less CO2 and 50(i) per cent less NOx, fly four(i) times quieter, and deliver dramatic energy savings – 20(i) per cent fuel burn advantage as well as 15(i) per cent improved cash operating costs versus current in-production aircraft of similar size. The CSeries aircraft will set a new benchmark in the industry, consuming as little as two litres of fuel per passenger per 100 kilometres in its more dense seating layouts(i).

The CS100 and CS300 aircraft models will share a new common centerline engine and have the same crew type rating, operating and maintenance procedures. Each of the aircraft models will also have operational flexibility to permit utilization on both short-haul and transcontinental routes.

In addition to Bombardier’s fourth-generation transonic composite wing design, the company is also using its Reconfigurable Engineering Flight Simulator II (REFS II) to develop customized ‘fly-by-wire’ control laws specific to CSeries aircraft. This simulator is the first of many devices planned, as part of an extensive integrated test regime, to ensure the CSeries aircraft achieves consistently high levels of reliability when it enters service.

About Lease Corporation International

Lease Corporation International (LCI) is a privately owned aircraft lessor founded in 2004. Since its inception LCI has acquired aircraft valued at over $3.5 billion. Its customer list includes national flag carriers and major airlines such as Singapore Airlines, British Airways, Air France and Virgin Atlantic. The company’s highly experienced management team works closely with airframe and engine manufacturers, and with major financial institutions to provide aircraft leasing solutions for airlines worldwide.

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