Ilyushin Finance leases two Bombardier Q400 aircraft to Jambojet

Bombardier Commercial Aircraft has confirmed that Moscow-based leasing company Ilyushin Finance Co. has converted an option on one Q400 aircraft to a firm order, and has concluded a leasing agreement with Jambojet Limited of Kenya for two Q400 aircraft, the company said.

Jambojet is expected to take delivery of the first leased Q400 aircraft in May 2017, and the second aircraft later this year. The delivery of these two aircraft will increase the fleet of Q Series turboprops in Africa to over 120 aircraft, including about 70 Q400 aircraft.

Jambojet, a low cost airline and a subsidiary of Kenya Airways, operates on domestic routes from Nairobi to Mombasa, Eldoret, Kisumu, Lamu, Malindi and Ukunda (Diani). It set a regional record in 2016 by handling over 1,000,000 customers in less than two years of operation.

Montréal, Canada-based Bombardier (TSX: BBD) is a manufacturer of both planes and trains. Together with its subsidiaries, it manufactures and sells transportation equipment worldwide. The company operates in four segments: business aircraft, commercial aircraft, aerostructures and engineering services, and transportation. In the fiscal year ended December 31, 2016, the company posted revenues of USD 16.3bn.