Colgan Doubles Q400 Order | Aviation International News

Colgan Doubles Q400 Order

Pinnacle Airlines subsidiary Colgan Air signed a firm order last month to acquire 15 more Q400 NextGen turboprops worth some $432 million.

By Gregory Polek • Senior Editor

January 30, 2009

Pinnacle Airlines subsidiary Colgan Air signed a firm order last month to acquire 15 more Q400 NextGen turboprops worth some $432 million. The transaction involves the conversion of a conditional order for 10 airplanes to firm status and the exercise of options Pinnacle placed on five in 2007. Scheduled for delivery between August 2010 and April 2011, the latest tranche of turboprops would increase the size of the fleet to 30.

Meanwhile, Pinnacle announced in the middle of last month that it has signed a firm
10-year deal with Continental Airlines to increase the number of Q400s operated by Colgan. Now flying 15 Q400s to 20 destinations out of Newark International Airport, Pinnacle said it has arranged for a financing commitment from a lender to finance up to 85 percent of the purchase price of each aircraft and to finance most pre-delivery payments required of the manufacturer between now and the time of delivery.

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