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Bombardier kicks off milestone delivery to Saudi Arabia
Bombardier (TSX:BBD.A) began deliveries of three Challenger 3500 aircraft to airline company Aloula Aviation in Saudi Arabia, marking the model's first registration in the Middle Eastern country
Bombardier designs, builds, modifies and maintains a line of jets for individuals, businesses, governments and militaries around the world
Bombardier stock has added 23.21 per cent year-over-year and 556.25 per cent since 2020
Bombardier (TSX:BBD.A) began deliveries of three Challenger 3500 aircraft to airline company Aloula Aviation in Saudi Arabia, marking the model's first registration in the Middle Eastern country.
The Challenger 3500 offers a maximum range of 6,297 kilometres and a maximum speed of 882 km/h, allowing it to complete non-stop flights from Saudi Arabia to Paris, Geneva and New Delhi.
Passengers also benefit from industry-leading reliability and the widest cabin in the super midsize class, 'making it a judicious addition to Aloula Aviation's fleet,' according to Thursday's news release. Khalid Hassan Alnatour, CEO of Aloula Aviation, and Éric Martel, president and CEO of Bombardier. (Source: Bombardier)
Aloula, established in 1934, is Saudi Arabia's first aviation company and the second in the Middle East. The company operates more than 60 aircraft across a variety of industries, serving 18 airports throughout Saudi Arabia – nine of which Aloula fully operates – in addition to more than 300 helipads, both on and offshore.
The delivery follows S&P Global's upgrade to Bombardier's credit rating and a new speed record for the jet maker's Global 7500 aircraft, both announced earlier this week. Leadership insights
'The business jet market in the Middle East is thriving and we are witnessing a significant increase in demand for super midsize aircraft, particularly for travel within the region and to Europe,' Éric Martel, Bombardier's president and chief executive officer (CEO), said in a statement. 'As the undisputed market leader in this segment, the Challenger 3500 is perfectly positioned to meet the needs of clients such as Aloula Aviation, as well as our growing client base in Saudi Arabia and the broader Middle East. Bombardier and Aloula Aviation both share an unwavering commitment to excellence, and the Challenger 3500 will surpass their expectations on every front. As Saudi Arabia continues its bold path laid out in the Vision 2030 plan, we are proud to support Aloula Aviation with this significant addition to their fleet and the region's growing aviation hub.'
'The Challenger 3500 aircraft represents the pinnacle of innovation, comfort and performance, perfectly aligning with our commitment to provide the best travel experience,' added Khalid Hassan Alnatour, CEO of Aloula Aviation. 'As we begin the delivery of the three Challenger 3500 aircraft that will join our fleet, we look forward to the many opportunities these jets will bring to our operations.' About Bombardier
Bombardier designs, builds, modifies and maintains a line of jets for individuals, businesses, governments and militaries around the world. Its customers operate a fleet of more than 5,100 aircraft supported by 10 service facilities across six countries. The company operates aerostructure, assembly and completion facilities in Canada, the United States and Mexico.
Bombardier stock (TSX:BBD.A) last traded at C$106.64. The stock has added 23.21 per cent year-over-year and 556.25 per cent since 2020.
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