Bombardier on Wednesday signed a preliminary agreement with Russian state corp., Rostec, for the purchase of up to 100 Q400 NextGen aircraft, a deal that could be valued at $3.39 billion if finalized.
(Q400 Nextgen. Photo, courtesy of Bombardier.)
The two companies signed the agreement during the International International Aviation and Space Salon, known as the MAKS 2013 Air Show, held at Moscow’s Zhukovsky Airport. A key provision included in the agreement is the establishment of a Q400 Nextgen final assembly line in Russia, Bombardier said.
“We recognize this as a landmark opportunity for the Q400 NextGen aircraft program," said Mike Arcamone, president of Bombardier. "We are forecasting a 144 per cent growth in demand for 60- to 99-seat turboprops over the next five years. Developing local roots in strategic markets is at the core of Bombardier’s strategic framework, and we have identified Russia as being key to our growth and sustainability."