Porter Airlines Converts Another Two Options for Bombardier Q400 Aircraft

Released on Thursday, October 02, 2008

October 2, 2008 � Toronto Aerospace

Transaction is Porter's fourth conversion of options this year

Bombardier Aerospace announced today that Porter Airlines of Toronto has signed a contract to acquire two 70-seat Q400 turboprop airliners by converting existing options. This conversion of options to firm orders is the fourth completed by Porter this year and these Q400 aircraft will become the 17th and 18th in the airline's fleet. Porter's original order for 10 firm and 10 options was announced in 2006.

Based on the list price for the Q400 aircraft, the value of the contract is approximately $52 million US.

"The Q400 airliner continues to deliver the operating economics, performance and passenger comfort that we anticipated when we placed our original order in 2006," said Robert Deluce, President and Chief Executive Officer, Porter Airlines. "We are now well on our way to increasing the number of markets we serve to at least 17."

"The backlog for our Q400 airliner has surpassed 100 and demand for the aircraft continues to be strong," said Gary R. Scott, President, Bombardier Commercial Aircraft. "The Q400 airliner's quiet performance, 360-knot (667 km/h) cruise speed, fuel efficiency and lower emissions position it as the benchmark aircraft for short-haul travel."

Porter Airlines currently operates six Q400 aircraft from its base at the Toronto City Centre Airport. The Q400 airliner is ideally suited to this downtown airport and Porter was recently recognized by Bombardier for achieving dispatch reliability rates exceeding 99 per cent in 2007.

With this order, Bombardier has now recorded firm orders for a total of 322 Q400 and Q400 NextGen airliners, with 210 delivered as of July 31, 2008.