Fri, Nov 23, 2007
Karthik Narayan, Chairman, Asia and
Middle East for Kanyan Capital, signed Letters of Intent for two
CRJ-Phoenix regional airliner conversions during the Dubai Air Show
last week. He signed the contract on behalf of Opus Capital, a
Dubai based private equity company, with Project Phoenix President
Mike Cappuccitti.
Opus Capital has committed to two CRJs, one of which will be
operated for charter out of the Dubai International Business
Aviation Terminal. Deliveries will be in September 2008 and
November 2008. Both aircraft will be operated by ExecuJet Middle
East.
Project Phoenix also announced it received a Letter of Intent from
Ritz Pacific Ltd for Jet Asia Macau, one of the biggest private jet
operators in Asia.
"We had a terrific week at the Dubai Show," commented Mike
Cappuccitti. "There is clearly a lot of interest in this program,
especially from the buoyant Middle East market."
Project Phoenix was hosted at the Dubai Show by international
aircraft sales and marketing organization Action Aviation, which
was named exclusive representative for the Middle East and Russia
for the program.
The CRJ-Phoenix is being launched to address two significant
challenges facing the business aviation sector today - rapidly
escalating prices and increasingly long lead times. The program has
been conceived, with the assistance and support of several former
senior Bombardier executives who make up Project Phoenix, to offer
buyers of large executive aircraft a viable and cost-effective
alternative to new business aircraft models in the 2,200 - 3,000
n.m range - for which new customers are having to wait for up to
five years for a delivery slot.
Project Phoenix, with its Montreal, Canada-based partner Aerospace
Concepts Ltd (ACL) pledges to retrofit a CRJ-200, fitting long
range fuel tanks if so required, within eight months. Maintenance
work will be carried out exclusively by reputable authorized
Bombardier Service Centers. Primary interiors provider will be
Flying Colours of Peterborough, Ontario. Cost per unit will be
ballpark $17.9 million for a baseline specification Aircraft.
The CRJ-Phoenix will boast a maximum range, with long-range
tanks fitted, in excess of 3,000 nm. Powered by twin General
Electric CF34-3B1 engines rated at ISA+15, the aircraft is capable
of normal operations out of hot and high airfields. Initial climb
altitude is 37,000 feet with a maximum certified ceiling of 41,000
ft. Direct and fixed operating costs are predicted to be very
similar to other executive jets in this class, whilst the total
hourly costs will be much lower owing to the significantly lower
capital cost.
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