De Havilland Aircraft Returns with Longview's Q Series Aircraft Program Acquisition

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De Havilland Aircraft Returns with Longview's Q Series Aircraft Program Acquisition

De Havilland Aircraft Returns with Longview's Q Series Aircraft Program Acquisition

Image Attribute: The file photo of Bombardier Q400 in Air Berlin livery/ Source: Wikipedia

On June 3, 2019, Longview Aviation Capital (LAC) Corp., launched De Havilland Aircraft of Canada Limited ­— the trade name of the subsidiary company that will operate the worldwide DHC-8 Dash 8 aircraft business. 

The launch comes with the formal completion of the transaction through which LAC acquired the entire Dash 8 program including the 100, 200 and 300 series and the in-production Q400 program from Bombardier Inc. for gross proceeds of approximately $300 million. Net proceeds are expected to be approximately $250 million after the assumption of certain liabilities, fees, and closing adjustments.

LAC was established in 2016 to manage a portfolio of long-term investments in the Canadian aerospace industry. In addition to De Havilland Aircraft of Canada Ltd., at present LAC includes and/or is associated with the assets of Viking Air Ltd., Pacific Sky Aviation Ltd., Longview Aviation Asset Management Inc., and Longview Aviation Services

The Dash 8 is a series of turboprop-powered regional airliners, introduced by de Havilland Canada in 1984 - joins LAC's comprehensive portfolio of aircraft programs, including the Twin Otter program and the DHC-1 through DHC-7 series, as well as the former Canadair CL-215, CL-215T, and CL-415 waterbomber aircraft.

Commented David Curtis, Chairman, LAC: "We are thrilled to assume responsibility for this exceptional aircraft program and welcome the more than 1200 professionals that are joining De Havilland Aircraft of Canada from Bombardier. We aim to enhance the tradition of excellence around this aircraft by ensuring we continue to evolve to meet the needs of our customers, with a focus on the cost competitiveness of these aircraft across the lifespan, from production to parts and in-service support. In the months ahead we will be investing in the business with the aim of positioning us to better serve our customers."

"We are particularly proud to introduce De Havilland Aircraft of Canada as an operating company and return the De Havilland Canada brand to prominence in the global aerospace industry. The iconic De Havilland name dates back almost one hundred years and is responsible for some of the most renowned aircraft in aviation history. The combination of the Dash 8 with the existing Longview Aviation Capital portfolio unites the entire De Havilland product line under the same banner for the first time in decades. With a new corporate identity that draws on the rich brand heritage, we are excited about the opportunities we see ahead for this company, and for the Dash 8 aircraft."

De Havilland Aircraft of Canada Limited will continue to produce, service and support Dash 8 and Q400 aircraft from the Downsview site in Toronto under land lease agreements which extend until 2023. Todd Young, a 30-year veteran of Bombardier who most recently was responsible for the Q-Series program, will lead the business as Chief Operating Officer. Nearly all of the previous Downsview workforce and all existing union agreements have transitioned to De Havilland Aircraft of Canada, ensuring operational continuity and a seamless transition for customers.

"We are excited to begin the next chapter for this aircraft program and to share the De Havilland Aircraft of Canada brand with the world," said Mr. Young. "Our team at Downsview is engaged and motivated, and we look forward to working with our customers, suppliers and industry partners to maintain the Dash 8 turboprop's position as one of the world's most important commercial aircraft."

According to LAC, De Havilland Aircraft of Canada Limited has obtained all regulatory approvals from Transport Canada and relevant competition authorities.