Russia's Ilyushin Finance Co. Signs Purchase Agreement for up to 42 Bombardier CSeries Aircraft

TORONTO, ONTARIO--(Marketwire - Feb. 20, 2013) - Bombardier Aerospace announced today that Moscow-based, national leasing company, Ilyushin Finance Co. (IFC), has signed a purchase agreement to acquire 32 CS300 aircraft and options for an additional 10 CS300 aircraft. The transaction, which follows a letter of intent signed by IFC in 2011, is subject to approval by the company's shareholders. A signing ceremony to commemorate the agreement was held today during a visit by IFC and Russian dignitaries to Bombardier's final assembly facility for the CSeries aircraft in Mirabel, Quebec.

Based on the list price for the CS300 aircraft, a firm order from IFC for 32 aircraft would be valued at approximately $2.56 billion US. Should IFC also exercise its 10 options, the contract would have a total value of approximately $3.42 billion US.

"The aircraft leasing world is changing rapidly," said Alexander Rubtsov, Director General, IFC. "As older, less efficient designs present ongoing challenges to airlines - given high fuel costs and heightened environmental concerns - the CSeries aircraft offers transcontinental range, superior field and runway performance, and a superb cabin that will bring air transport into the 21st century."

Mr. Rubtsov also noted that the order for the game-changing, technologically advanced CSeries jetliners is its first large, non-Russian aircraft order, adding that the CSeries aircraft, with its capacity and performance, is ideally placed between the Russian Superjet and the MC-21 aircraft, which IFC has committed to purchase.

"This is a landmark opportunity for Bombardier Aerospace and its CSeries aircraft," said Mike Arcamone, President, Bombardier Commercial Aircraft. "The CSeries aircraft was tailor-made for operation in this vast region and has the potential to offer a step-change in air travel in Russia and throughout the Commonwealth of Independent States."

Currently, 95 CRJ regional jets and Dash 8/Q-Series aircraft are in service or on order in Russia and the Commonwealth of Independent States. In addition, Bombardier is also exploring opportunities for its Q400 NextGen turboprop aircraft in Russia.