Shortly after announcing the launch of Project Phoenix to provide a market for used Bombardier CRJ-200, the new venture announced its first customer in Kanyan Capital and Ritz Pacific Ltd for Jet Asia Macau, which signed Letters of Intent for CRJ-Phoenix regional jets to be converted into luxury business jets, according to Project Phoenix President Mike Cappuccitti. Karthik Narayan, chair, Asia and Middle East for Kanyan Capital, signed the Kanyan letters of intent during the Dubai Air Show on behalf of Opus Capital, a Dubai based private equity company. One of its two aircraft will be operated as a charter aircraft out of the Dubai International Business Aviation Terminal once deliveries are made next September and November. The two aircraft will be managed by ExecuJet Middle East. Project Phoenix also announced it received a Letter of Intent from Ritz Pacific Ltd for Jet Asia Macau, one of the biggest private jet operators in Asia.
With Project Phoenix, Bombardier is capitalizing on the long lead times for most new business aircraft. The new program, Project Phoenix, Ltd, announced at the Dubai Air Show, converts the popular, 50-seat regional jet into a luxury VIP jets seating 12 to 19 passengers. As it is, with the reduction of 50-seat orders, the CRJ-200 production line was turned over to the company’s business aviation sector months ago. The initial focus is the Middle East, Asia and European markets, with the USA to follow later although it is expected sourcing CRJ-200s will be from U.S. carriers.
Project Phoenix pledges to retrofit a CRJ-200, fitting long range fuel tanks if required, within eight months. Maintenance work will be carried out exclusively by authorized Bombardier Service Centers. Cost per unit is now estimated at $17.9 million.
Project Phoenix Ltd. addresses two significant challenges facing the business aviation sector, said the company - rapidly escalating prices and increasingly long lead times. The program has been conceived, with the assistance and support of several former senior Bombardier executives who make up Project Phoenix, to offer buyers of large executive aircraft a viable and cost-effective alternative to new business aircraft models in the 2,200 – 3,000 n.m range – for which new customers are having to wait for up to five years for a delivery slot.
“The CRJ-200 has been in commercial service since the early 1990’s and has proved to be an exceptionally reliable, safe and economic aircraft,” said Mike Cappuccitti, president. “Project Phoenix directly addresses buyers’ concerns with regard to price and delivery, with absolutely no trade-off in comfort and safety. The proven airframe, engines and multiple redundancy systems of the CRJ-200, as well as its generous cabin size, make it an ideal candidate for a conversion program.”
The program will take CRJ-200’s from the secondary market and put them through a comprehensive maintenance upgrade, including an engine shop visit if required, before installing a new luxury interior and state-of-the-art in-flight entertainment system (IFE). Avionics will be added as well as an additional fuel tank to allow the CRJ-Phoenix to conduct long-range flights.
Former President of Bombardier Business Aircraft Sales, John Lawson is assisting in the start-up of Project Phoenix. “In the mid 90s, there was a ‘Special Edition’ program, based on the original Canadair RJ airframe, which resulted in a very desirable business aircraft,” he said. “Regrettably, it had to be shelved when demand from the airline industry soaked up all available airframes. This program brings them back to the marketplace at an exceptionally attractive price point.”
The CRJ-Phoenix will boast a maximum range, with long-range tanks fitted, in excess of 3,000 nm. Powered by twin General Electric CF34-3B1 engines rated at ISA+15, the aircraft is capable of normal operations out of hot-and-high airfields such as Dubai, Abu Dhabi, Jeddah and Riyadh. Initial climb altitude is 37,000 feet with a maximum certified ceiling of 41,000 ft. Direct and fixed operating costs are predicted to be very similar to other executive jets in this class, whilst the total hourly costs will be much lower owing to the significantly lower capital cost.
Project Phoenix hoped to conclude two Letters of Intent during Dubai from the 30 potential orders under discussion, Cappuccitti confirmed.
“What really makes the CRJ-Phoenix attractive to potential customers is the fact that the aircraft will present “as new” for a price way below that of any other aircraft in its class,” said Cappuccitti. “Moreover, we can produce it in less than 10 months.”
Project Phoenix Ltd. partnered with Aerospace Concepts Ltd. of Montreal, Canada to project manage the sourcing, maintenance and completion phase and Action Aviation Ltd, which markets marketing of high-performance business jets and helicopters, to handle marketing and sales. Both companies have long experience and a solid track record in their respective industry sectors. Aerospace Concepts (ACL) offers high-level completion and technical management expertise for owners and operators of large-cabin business aircraft. Other services include aircraft acquisitions support, interior design, engineering, and flight operations support. Action Aviation is part of the Action Group of companies, with offices in Dubai (UAE), UK, USA, India, France, Finland and Switzerland. The company has product experts based throughout its distribution territories.
The first orders resulted from work done at Dubai. “We had a terrific week at the Dubai Show,” commented Mike Cappuccitti. “There is clearly a lot of interest in this program, especially from the buoyant Middle East market.”