- Bombardier (TSX:BBD.A) and Vista Global, a top business flight services provider based in Dubai, signed a 5-year, US$300 million agreement under Bombardier’s Smart Parts program
- Bombardier builds jets for businesses, governments and militaries around the world
- Bombardier stock has added 223.57 per cent year-over-year
Bombardier (TSX:BBD.A) and Vista Global, a top business flight services provider based in Dubai, signed a 5-year, US$300 million agreement under Bombardier’s Smart Parts program, which offers coverage for component exchanges including major systems, avionics, tires, brakes and corrosion coverage under a cost-per-flight hour model.
The agreement, covering Vista’s recent purchase of 40 Challenger 3500 aircraft, as well as a large portion of its existing fleet, will afford the services provider peace of mind under the approximately US$1.18 billion order, with an option to acquire an additional 120 aircraft potentially lifting the order value to US$4.72 billion.
Vista received its first of 18 Global 8000 jets, Bombardier’s newest model, earlier this month in London, complementing its fleet with the fastest civil aircraft since the Concorde.
Leadership commentary
“Bombardier’s pioneering Smart Parts cost-per-flight-hour programs are designed to maximize flexibility, convenience and budget predictability, making it an ideal choice for our longstanding customer Vista,” Paul Sislian, executive vice president, aircraft sales and Bombardier Aftermarket Services, said in Monday’s news release. “This services and support agreement with Vista leverages our Smart Parts programs and further deepens the relationship that exists between the two companies, providing cost protection for select models of Vista’s Challenger and Global aircraft.”
“This agreement marks an important step in further enhancing the reliability and performance of the Vista fleet,” added Nick van der Meer, chief operating officer at Vista Global. “By leveraging Bombardier’s Smart Parts programs, we are strengthening our ability to deliver a seamless and consistent experience to our clients around the world. Predictable maintenance and optimized aircraft availability are key to ensuring that every Vista flight meets the highest standards of quality, safety and service that our clients expect.”
About Bombardier
Bombardier builds jets for businesses, governments and militaries around the world. The company’s customers operate a fleet of more than 5,200 aircraft supported by 10 service facilities across six countries. Manufacturing activities are based in Canada, Mexico and the United States.
Bombardier stock (TSX:BBD.A) last traded at C$268.92 and has added 223.57 per cent year-over-year.
Join the discussion: Find out what investors are saying about this aerospace stock on the Bombardier Inc. Bullboard and make sure to explore the rest of Stockhouse’s stock forums and message boards.
