Long-time buyer signs memoradum of understanding for luxury jets
LAS VEGAS—As Bombardier’s Business Aircraft division ramps up production on its long-awaited Global 7000 line-up, its Challenger 350 continues to soar.
The company has signed a memorandum of understanding with Flexjet LLC that will see the fractional private jet firm buy 20 Challenger 350s. If sold at list price, the deal would be valued at US$544 million.
“Today’s announcement is a further endorsement of our incomparable Challenger 350 aircraft,” David Coleal, president of Bombardier Business Aircraft, said. “Flexjet is one of our most valued customers, and we are pleased that our Challenger 350 aircraft, built for optimal comfort and performance, will add to Flexjet’s continued growth and success.”
Bombardier notes it has been a part of Flexjet’s offering since the company was founded two decades ago. Flexjet’s business relies on fractional ownership, in which its customers buy a share of a plane, as opposed to an entire plane.