General Electric has purchased the bulk of Bombardier Capital’s corporate aircraft leasing and financing business. The selling price of $339 million represents the “book value” of the loans and financial leases outstanding, Bombardier said.
In a June 2 letter to customers, Skyservice president Russell Payson exhorted everyone not to curtail travel plans to Toronto despite negative publicity concerning that city’s involvement in the World Health Organization’s (WHO) severe acute respiratory syndrome (SARS) warnings.
Atlantic Coast Airlines in late May reached terms with Bombardier Aerospace on a revised delivery schedule for the remaining 42 CRJ200s on firm order after code-share partner United Airlines won a restraining order to prevent the Sterling, Va.-based regional from terminating its United Express contract.
Bombardier Aerospace yesterday signed a contract with China’s Shenyang Aircraft Corp. (SAC) to supply the center fuselages for the newly launched C-Series family of single-aisle airliners.
The contract between Bombardier and SAC is an integral part of the relationship with the state-owned aviation-industrial entity China Aviation Industry Corp. (AVIC I), of which SAC is a subsidiary.
The National Research Council of Canada signed a five-year memorandum of understanding (MoU) with EADS last month to cooperate on aerospace research and technology development.
Pierre Beaudoin’s reign as Bombardier president and CEO began on June 4. The younger Beaudoin succeeded his father, Laurent–who will remain chairman of the board of directors–as the head of the Canadian transportation giant.
Zurich, Switzerland-based VistaJet Holding today announced that it has signed a definitive agreement to acquire Bombardier Aerospace’s Skyjet International, a “global business jet charter service,” for an undisclosed amount. Skyjet has offices in London, Hong Kong and Dubai. According to VistaJet, the deal propels the charter firm to the number-two position outside North America and allows it to expand operations worldwide.
The business jet industry “remains strong,” according to newly appointed Bombardier president and CEO Pierre Beaudoin, who released first quarter financial results during an investors conference call yesterday. Revenues for Bombardier Aerospace increased 5 percent, from $2.26 billion in the first fiscal quarter last year to $2.38 billion in the same period this year.
Bombardier Aerospace late last week announced that it will manufacture the all-composite structure for the new Learjet 85 at its facility in Querétaro, Mexico. In addition, the Querétaro site will be responsible for making the electrical harness and performing subassembly systems installation for the twinjet.
A familiar name moved up at Bombardier Aerospace in October when Pierre Beaudoin replaced Michael Graff as president and COO.