Looks like Toronto Island Airline to take off
Bombardier Signs Firm Order With Regco For Ten Q400 Airliners Valued At $250 Million US
Toronto, February 01, 2006
Potential value of $500 million US if all options exercised
Bombardier Aerospace announced today that REGCO Holdings Inc. of Toronto has signed a contract to acquire ten 70-seat Bombardier Q400 high-speed turboprop airliners and take options on an additional ten aircraft.
The list price value for the ten aircraft on firm order is approximately $250 million US. The contract has a potential list price value of approximately $500 million US if all ten options are exercised.
REGCO will publicly announce its plans for the aircraft on February 2, 2006. A media advisory will be issued later today to provide details relating to REGCO’s announcement.
“The Bombardier Q400 has won praise from airlines for its economics, speed and passenger comfort,” said Robert Deluce, President and Chief Executive Officer, REGCO. “It fits our operational plans exceedingly well.”
“We are immensely proud that this new Toronto airline has chosen this Toronto-built, world-leading aircraft, the Bombardier Q400,” said Steven Ridolfi, President, Bombardier Regional Aircraft. “This extraordinary regional aircraft has led a resurgence in turboprop travel around the world. It has everything –- jet-like speed, quiet comfort, environmental friendliness, low fuel burn, and the lowest operating costs of any regional aircraft. There is no other turboprop that can compete with the Q400 aircraft in this arena.”
The 360-knot (667 km/h) cruise speed and capacity of the Q400 provides airlines with greater revenue-generating opportunities in both traditional and low cost markets and extends an airline’s reach well beyond traditional turboprop markets. The superior operating economics of the Q400 enable it to compete effectively against established low cost carriers.
The order announced today increases Q400 firm orders to 175 aircraft. As of December 31, 2005, 106 had been delivered to operators in North America, Asia, Europe and the Middle East