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Bombardier Sells Q300 Turboprop (Oct. 29)

TORONTO --- Bombardier Aerospace has signed a contract with Cairo-based Petroleum Air Services (PAS) for the sale of one additional Bombardier Q300 turboprop 50-seat regional airliner.

The contract, valued at $16.0 million US, represents the conversion of an option to a firm order. Delivery is scheduled for the first quarter of 2005.

Petroleum Air Services’ initial order for two 50-passenger Q300 aircraft was announced in October 2001. A subsequent order for one Q300 was announced in January 2003.

PAS flies from Cairo International Airport to several sites within a radius of 700 km (380 nm) on behalf of Egyptian and multi-national companies. It also operates charter flights within Egypt and to surrounding countries to support the country’s tourism sector.

“We require an additional Bombardier Q300 because of increasing activity in both the petroleum and tourism sectors,” said General Hassan Mahmoud Rashed, Chairman and Managing Director, Petroleum Air Services. “Our current Q300 aircraft have been performing very well in our hot and sandy climate so we have no hesitation in adding to the fleet. As well, passenger acceptance has been very rewarding because of the Noise and Vibration Suppression (NVS) system.”

“We are gratified by Petroleum Air Services’ continuing confidence in the Bombardier Q300 and we place a high value on the relationship between our two companies,” said Steven Ridolfi, President, Bombardier Regional Aircraft.

The PAS order, plus the order for 17 Bombardier Q300 aircraft placed recently by Air New Zealand, increases the Q Series order book to 740 firm aircraft with 689 delivered as of September 30, 2004.

A world-leading manufacturer of innovative transportation solutions, from regional aircraft and business jets to rail transportation equipment, Bombardier Inc. is a global corporation headquartered in Canada. Its revenues for the fiscal year ended Jan. 31, 2004 were $15.5 billion US and its shares are traded on the Toronto, Brussels and Frankfurt stock exchanges.

Bombardier Sells Fourth Q300 to Petroleum Air Services of Cairo