Posted on November 18, 2019

Palma Capital Limited, Export Development Canada and De Havilland Canada Sign Memorandum of Understanding Regarding Dash 8-400 Aircraft Transactions

DUBAI, Nov. 18, 2019 /CNW/ - Today, during the Dubai Airshow, Palma Capital Limited ("Palma"), Export Development Canada (EDC) and De Havilland Aircraft of Canada Limited ("De Havilland Canada") announced that they have signed a Memorandum of Understanding (MOU) that outlines mutual cooperation between the three parties regarding potential Dash 8-400 aircraft transactions such as aircraft procurement and leasing opportunities and sale-leaseback opportunities for the Middle East and Africa.

Under the MOU, the parties expect to engage directly and/or indirectly to develop funding for the purchase of new De Havilland Canada aircraft assets for onward leases to third parties. This MOU represents the first broad-based joint approach by Palma, EDC and De Havilland Canada.

Palma Capital's President, Moulay Omar Alaoui said: "We see this as an important milestone to work on creative opportunity development in the regional aircraft sector. This MOU will enhance our joint efforts as we work to engage interested airlines and finalize placement of new Dash 8-400 aircraft."

"This MOU represents a starting position for De Havilland Canada to build on previous successes in placing aircraft at airlines with support from Export Development Canada," said Todd Young, Chief Operating Officer, De Havilland Canada. "We expect to move forward on various opportunities with this formalized understanding from Canada's export credit agency in conjunction with Palma Holding as an experienced lessor of Dash 8-400 aircraft in the Middle East, Europe and Africa."

"This collaboration with Palma and De Havilland Canada reflects our commitment to helping Canadian companies seize opportunities for international growth. We're proud to support De Havilland Canada, a company that showcases Canadian aerospace technology and talent to the world," said Jean-Bernard Ruggieri, EDC's Chief Representative, Middle East and Africa.

About Dash 8-400 Aircraft

The Dash 8-400 aircraft is the latest in the Dash 8 Series family. Designed as an advanced, 21st-century turboprop, it provides unmatched performance and operational flexibility. The Dash 8-400 aircraft is nimble enough for a steep approach, yet tough enough to land on unpaved run­ways. It's the only turboprop in its class certified for high altitude airports.

Offering the versatility of turboprop economics with jet-like performance, the Dash 8-400 can be adapted to many business models, delivering 30 per cent less fuel burn than competing jets, while cruising 160 km/h faster than conventional turboprops. Its large propellers operate at a lower RPM, generating more power with less noise and making it a friendly option for city centres. With industry-leading passenger experience, operating costs and environmental footprint, the Dash 8-400 aircraft is the pinnacle of the modern turboprop.

As the most successful Dash 8 Series aircraft, the Dash 8-400 has logged almost seven million flight hours with over 60 owners and operators in almost 40 countries. With a dispatch reliability rate of over 99.5 per cent, the aircraft has transported more than 400 million passengers worldwide.

About De Havilland Aircraft of Canada Limited

With its acquisition of the Dash 8 aircraft program, Longview Aviation Capital has proudly relaunched De Havilland Canada, one of Canada's most iconic brands. De Havilland Canada's portfolio includes sales and production of the Dash 8-400 aircraft, one of the world's most important commercial aircraft, as well as support for the worldwide fleet of Dash 8-100/200/300/400 aircraft. The company is committed to maintain the brand's 90-year-old reputation for expertise, excellence and reliability in its manufacturing and commercial operations, and through its global network providing customer services and support. Increasingly, the company is focused on the cost competitiveness of aircraft across their lifespan.

De Havilland, Dash 8, Dash 8-100/200/300 and Dash 8-400 are trademarks of De Havilland Aircraft of Canada Limited.

Palma signing at Dubai Airshow

Anas Bennani, Managing Director, Palma Holding, Moulay Omar Alaoui, President, Palma Holding, Todd Young, COO, DHC, Jean-Bernard Ruggieri, EDC, Chief Representative, Middle East and Africa. Sameer Adam, RVP, Sales, EMEAR