The order also includes purchase rights for five additional Q400 aircraft and is valued at approximately $332 million, based on the plane model’s current list price, Bombardier Commercial Aircraft Plc said in a statement on its website.
According to the company’s president Fred Cromer: “We are proud that the flag carrier of Ethiopia is once again recognizing its tremendous value by increasing its fleet of Q400 aircraft.”
“The market trend for high-performing and larger turboprops is intensifying, and this fifth reorder is a great example of the Q400 turboprop success story and the value it creates for clients around the world.”
Ethiopian Airlines is the largest operator of Q400 aircraft in Africa. The airline currently operates 22 Q400 turboprops based in Addis Ababa and through its partners Asky in Lome and Malawian Airlines in Lilongwe, and is expected to take delivery of two more in 2018.
With this order, Ethiopian Airlines will increase its fleet of Bombardier turboprops to up to 39 aircraft after exercising purchase rights.
The new purchases will support the airline’s additional domestic capacity in Ethiopia, as well as new partnership hubs in Mozambique, Chad, and Equatorial Guinea.
“We are confident that the Q400 aircraft will help us develop underserved markets where challenging airports require distinct operational performance such as hot and high capabilities,” said chief executive officer Tewolde GebreMariam.
Headquartered in Montreal, Canada, Bombardier is listed on the Toronto Stock Exchange (BBD) and reported revenues of $16.2 billion in the fiscal year ended December 31, 2017.