Bombardier sells two Q400 aircraft to Horizon Air

Bombardier Aerospace announced today that Seattle, Washington-based Horizon Air has placed a firm order for two additional 70-seat Bombardier Q400 turboprop airliners, which will increase its fleet to 17, of which 15 have already been delivered and are in operation. Deliveries for these aircraft are scheduled in 2004.

The transaction results from a revision of Horizon’s fleet delivery plan, and represents the conversion of two firm orders for 70-seat Bombardier CRJ700* regional jets to Bombardier Q400 aircraft.

Horizon Air now retains firm orders for 28 CRJ700 aircraft, of which 16 have been delivered. Under the new plan Horizon will take delivery of two CRJ700 jets in 2003, two Q400 turboprops in 2004 (converted from jets) and will take the remainder of their 10 CRJ700 aircraft at a rate of two a year between 2005 and 2009. This change to the delivery schedule does not affect the increase in Bombardier’s CRJ700 production rate scheduled for January 2004. In addition, Horizon Air continues to protect options on 25 CRJ700 aircraft, as well as options on 15 Q400 turboprops.

“The extremely low operating costs of the Q400, coupled with its flexibility to fill a wide range of missions, made this switch attractive,” said Pat Zachwieja, vice-president, marketing and planning at Horizon Air. “It is part of the ongoing rationalization of the Alaska Air Group route structure and aircraft allotment.”

He noted that Horizon Air will operate Frontier Airlines’ regional jet service as Frontier JetExpress with nine CRJ700 aircraft effective January 1, 2004.

“Horizon Air is the seventh airline to re-order the Q400, further confirmation that the aircraft has the lowest operating economics and highest profit potential of any aircraft in its class,” said Steven A. Ridolfi, president, Bombardier Aerospace, Regional Aircraft. “The aircraft’s 360-knot (667 km/h) cruise speed and quiet and spacious passenger cabin are added benefits.”

The Q400 order book, including options and conditional orders, totals 193 aircraft with 75 delivered and in service with 11 operators in North America, Europe and the Asia/Pacific region.

Bombardier Aerospace, a unit of Bombardier Inc., is a world leader in the design and manufacture of innovative aviation products and provides services for the regional, business and amphibious aircraft markets. It also offers Bombardier Flexjet* and Bombardier Skyjet* business aircraft programs, technical services, and aircraft maintenance and pilot training for business, regional airline and military customers.

Bombardier Inc., a diversified manufacturing and services company, is a world-leading manufacturer of business jets, regional aircraft, rail transportation equipment and motorized recreational products. It also provides financial services and asset management in business areas aligned with its core expertise. Headquartered in Montréal, Canada, the Corporation has a workforce of some 75,000 people and manufacturing facilities in 25 countries throughout the Americas, Europe and Asia-Pacific. Its revenues for the fiscal year ended Jan. 31, 2003 stood at $23.7 billion Cdn. Bombardier shares are traded on the Toronto, Brussels and Frankfurt stock exchanges (BBD, BOM and BBDd.F).

* Trademarks of Bombardier Inc. or its subsidiaries.

Information:
Bert Cruickshank
Bombardier Aerospace
Toronto: (416) 375-3030