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Bombardier and Kansas announce financing agreement

NEWS HIGHLIGHT

Bombardier and Kansas
announce financing agreement

Kansas Governor Mark Parkinson and Bombardier Business Aircraft president Steve Ridolfi announced on July 29, the details of a formal agreement that will secure production of the all-new midsize Learjet 85 aircraft at Bombardier Learjet in Wichita.


August 3, 2010
By Carey Fredericks

Aug. 3, 2010, Witchita, Kan. – Kansas Governor Mark Parkinson and
Bombardier Business Aircraft President, Steve Ridolfi announced on
Thursday the details of a formal agreement that will secure production
of the all-new midsize Learjet 85 aircraft at Bombardier Learjet in
Wichita.

The agreement includes $27 million in bond financing from the State of Kansas which will be invested in improvements to Learjet's Wichita facility in order to prepare for the eventual production of the Learjet 85 business aircraft. Modification plans to the Learjet campus include an all-new paint facility, customer delivery centre, production flight test facility and expanded production hangars for the final assembly of the Learjet 85 aircraft.

"The State of Kansas' generous support of our business will help secure Learjet's future in Wichita, the birthplace of Learjet aircraft, and help ensure that the success Learjet has enjoyed for over 45 years continues to prosper with the addition of new programs like the Learjet 85 aircraft," said Steve Ridolfi, President, Bombardier Business Aircraft.

Bombardier Aerospace continues to invest in both current production Learjet aircraft as well as innovative products such as the all new Learjet 85 midsize jet.

"This is great news for Wichita and the entire state as we continue to further our economic recovery in Kansas. The agreement reached is a responsible investment that will not only keep hard working employees of Bombardier, but also create jobs and promote our state's rich aviation industry," said Governor Parkinson.