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PARIS 2009: Bombardier sells eight Q400s for operation by Olympic Air

16th June 2009 - 19:00 GMT | by The Shephard News Team


Bombardier Aerospace announced today that MIG Aviation 3 Ltd, a subsidiary of Marfin Investment Group Holdings of Greece, has signed a firm order for eight Q400 aircraft, including five Q400 NextGen airliners, and has taken options on an additional eight Q400 NextGen airliners.

Based on the list prices for the Q400 and Q400 NextGen, the value of the firm order contract is approximately US$224 million and could increase to US$468 million if the eight options are exercised.

The Q400 and Q400 NextGen aircraft will be operated by Pantheon Airways under the Olympic Air brand name. Pantheon acquired certain assets of Olympic Airlines and Olympic Airways from the government of Greece earlier this year.

"The Q400 airliners are an important part of Olympic's fleet replacement programme intended to introduce state-of-the-art air transport technology in Greece's regions," said Antonis Simigdalas, CEO, Pantheon Airways.

Helping Pantheon to introduce the aircraft into service is Flybe, whose COO Andrew Strong and director of fleet planning, David Attenburrow, joined Simigdalas and his team to celebrate the order at the Bombardier static display at the show. "We're very excited about this and some similar opportunities in the same vein," Strong remarked. "It enables us to use some of our skills out in the market."

The transaction announced today increases firm orders for Q400/Q400 NextGen turboprops to 355 aircraft, of which 245 had been delivered as of 30 April. The aircraft are now in service with, or have been ordered by, 31 operators.

Bernie Baldwin, editor, Low-Fare & Regional Airlines/


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