Bombardier and Germany's Deutsche Structured Finance Sign MoU for 50 Firm Bombardier CRJ Aircraft.Business Editors PARIS--(BUSINESS WIRE)--June 18, 2001 Bombardier Aerospace Bombardier Aerospace is a division of the Bombardier group, with the third largest workforce (behind Boeing and Airbus) and the fourth largest in yearly delivery of commercial airplanes (behind Boeing, Airbus and Embraer). (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :BBD BBD In currencies, this is the abbreviation for the Barbados Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. .A.)(TSE:BBD.B.) and Deutsche Structured Finance (DSF DSF Dubai Shopping Festival DSF Digital Solidarity Fund DSF Division of State Facilities DSF David Suzuki Foundation DSF Dispersion Shifted Fiber DSF Dansk Sportsdykker Forbund (Danish Sport Diving Federation) ) today announced that DSF, in association with Deutsche Operating Leasing AG (DOL DOL - Display Oriented Language. Subsystem of DOCUS. Sammet 1969, p.678. ) have concluded a Memorandum of Understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. (MoU) for the purchase of 50 Bombardier CRJ CRJ redirects here. For other meanings of CRJ see CRJ (disambiguation) The Bombardier CRJ (Canadair Regional Jet) is a family of regional airliners manufactured by Bombardier, and based on the Canadair Challenger business jet. (i) regional jets - plus 30 optioned aircraft. The definitive purchase contract is expected to be finalized shortly. The MoU outlines an agreement for the sale of 50 firm aircraft - 30 70-seat Bombardier CRJ700(i) and 20 86-seat Bombardier CRJ900(i) - plus 30 optioned aircraft. The optioned aircraft allow DOL the flexibility to choose between Bombardier CRJ200(i), CRJ CRJ Canadair Regional Jet CRJ Chiropractic Research Journal CRJ Commission for Racial Justice CRJ Cylinder Reduction Jumper 700 and CRJ900 models of the CRJ family of regional jets. The firm order portion of the contract is valued at approximately U.S.$1.5 billion (Cdn.$2.25 billion) with deliveries scheduled to begin in the first quarter of 2003 and be completed in the second quarter of 2009. The option portion of the contract is valued at approximately U.S.$1.0 billion (Cdn.$1.5 billion). DOL was created and launched in 1999 by DSF as a dedicated aircraft operating leasing company to address the growing market requirement for investments by German investors in aircraft leasing. DSF, together with DOL which is managed by DSF, is responsible for an operating lease Operating Lease A lease contract that allows the use of an asset, but does not convey rights similar to ownership of the asset. Notes: An operating lease is not capitalized it is accounted for as a rental expense. portfolio currently comprised of 12 Boeing 737-300, two Boeing 767-300ER and nine Bombardier CRJ aircraft. DSF and DOL were the first operating lessors to enter the regional jet market with Bombardier aircraft. "Aircraft operating leasing, especially in the regional jet segment, is a growth industry within a growth industry," said Paul Steinhardt Paul J. Steinhardt is the Albert Einstein Professor of Science at Princeton University and a professor of theoretical physics. He was an undergraduate at the California Institute of Technology, completed his doctorate at Harvard University and was formerly a professor at the , CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of DOL and chief managing director of DSF. "The demand for aircraft, particularly in the regional jet market, is expected to continue on its growth path for the next two decades and we believe the Bombardier CRJ family of regional jets will continue to be the premier brand in the industry. This order is not only demonstrative of Adj. 1. demonstrative of - serving to prove or demonstrate; "the oath of office is...demonstrative of the legislative opinion on this subject"- John Marshall this belief but also of the value attached by DSF to the relationship which has been built with Bombardier since entering the regional jet market with its first Bombardier CRJ two years ago," he said. "We are extremely pleased that DSF through DOL has exclusively selected the flexibility of the Bombardier CRJ family for the regional jet portion of its portfolio," said Steven Ridolfi, president, Bombardier Regional Aircraft. "This order will allow DSF and DOL to further expand the reach of the Bombardier CRJ product line to customers who require operating lease options in their business," he said. It is expected that DSF will primarily concentrate its regional jet portfolio in the European marketplace. Since the first commercial CRJ entered revenue service with Lufthansa CityLine in late 1992, well over 500 aircraft have been delivered. Firm order backlog for Bombardier's family of regional jets is well in excess of 600 aircraft while conditional orders and options raise total commitments for all Bombardier CRJ models beyond the 2,300 mark. The initial 50-passenger Bombardier CRJ100/200 models were joined in the marketplace earlier this year by the first growth version in the product family - the 70-seat class Bombardier CRJ700. First deliveries of the further extended model - the 86-seat Bombardier CRJ900 - will begin in the first quarter of 2003. Both the Bombardier CRJ700 and Bombardier CRJ900 are well ahead of competing aircraft currently under development. Bombardier's regional jet airliner family concept helps to reduce operating, maintenance and spares costs to operators with mixed CRJ fleets through commonality in flight crew and maintenance training as well as substantial capital savings through parts and equipment common to all members of the airliner family. Deutsche Structured Finance GmbH, in addition to its other activities as a specialist in cross-border property and project related transactions for moveable assets, is the inventor of the German Operating Lease for aircraft of which it has concluded 26 to date. DSF is a wholly-owned subsidiary of DePfa Bank AG. Bombardier Aerospace, a unit of Bombardier Inc., is a world leader in the design, and manufacture of innovative aviation products and services for the regional, business and amphibious aircraft markets. It also offers Bombardier Flexjet(R) fractional ownership, aircraft charter and management, technical services, aircraft maintenance and pilot training for business, regional airline and military customers. Bombardier Inc., a diversified manufacturing and service company, is a world leading manufacturer of business jets, regional aircraft, rail transportation equipment and motorized mo·tor·ize tr.v. mo·tor·ized, mo·tor·iz·ing, mo·tor·iz·es 1. To equip with a motor. 2. To supply with motor-driven vehicles. 3. To provide with automobiles. recreational products. It is also a provider of financial services and asset management. The Corporation employs 79,000 people in 24 countries in the Americas, Europe and Asia-Pacific. Bombardier's revenues for its fiscal year ended Jan. 31, 2001 totalled $16.1 billion and more than 90% were generated outside Canada. (R) Registered Trademarks of Bombardier Inc. (i) Trademarks of Bombardier Inc. Note to Editors: Images of Bombardier CRJ aircraft are available on our web site photo gallery at: http://aero.bombardier.com/htmen/F15.htm |
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