Bombardier Commercial Aircraft and Industrial Bank Financial Leasing Co., Ltd (CIB Leasing) announced today that the parties have agreed to convert a previously announced order for 10 Bombardier CRJ Series aircraft to five 90-seat Bombardier Q400 turboprops, and five Bombardier CRJ900 regional jets.

“As we work alongside CIB Leasing to explore market opportunities for regional fleet growth and network expansion in Asia, we are pleased to see that more 90-Seat Q400 turboprop will be available in the region,” said Fred Cromer, President, Bombardier Commercial Aircraft. “With 15 percent lower cost per seat than the 78-seat version, our 90-seat turboprop aircraft has unique capabilities and unbeatable productivity, and we are confident that our leasing partner and potential operators will extract tremendous value from it.”

This converted purchase agreement, based on list price, is valued at about US$ 420 million.