Production to Continue Uninterrupted at Downsview Facility Includes Trademark to Iconic de Havilland Brand
VICTORIA, Nov. 8, 2018 /PRNewswire/ - Longview Aviation Capital Corp., parent company to Viking Air Limited, a leading Canadian aircraft manufacturer, today agreed to acquire, through an affiliate, the entire Dash 8 program including the 100, 200 and 300 series and the in-production Q400 program from Bombardier Inc. Also included as part of the transaction are rights to the de Havilland name and trademark in an all-Canadian transaction.
Once completed, Longview will become North America's largest commercial turbo-prop aircraft manufacturer.
"The Dash 8 turbo-prop is the perfect complement to our existing portfolio of specialized aircraft including the Twin Otter and the Canadair CL 215 and 415 series of water bombers," said David Curtis, CEO of Longview Aviation Capital Corp. "We see enormous value in the de Havilland Dash 8 program, with these aircraft in demand and in use all around the world."
As part of the agreement, Longview will receive all assets and intellectual property and Type Certificates associated with the Dash 8 program. Upon the closing of the transaction, Longview will also assume responsibility for the worldwide product support business – covering more than 1,000 aircraft either currently in service or slated for production.
Longview will continue to independently operate the program at the original de Havilland manufacturing site located at Downsview, Ontario upon closing of the transaction. The Downsview site was sold by Bombardier earlier this year but, under the terms of a lease with the new owners and a license from Bombardier, production will remain on-site until at least 2021. As part of the transaction Longview also looks forward to welcoming Bombardier employees currently associated with the production, support and sales of the Dash 8 program.
"We are committed to a business-as-usual approach that will see no interruption to the production, delivery and support of these outstanding aircraft," added Curtis. "With the entire de Havilland product line reunited under the same banner for the first time in decades, we look forward to working with customers, suppliers and employees upon close of the transaction to determine what opportunities lie ahead."
Longview and Bombardier will work closely in the period until the closing of the transaction to ensure a seamless transition for employees, customers, suppliers and other stakeholders with no interruption in production, delivery and support of the aircraft.
This transaction builds on Longview's established track record of acquiring and successfully operating significant aircraft manufacturing, parts and serving programs including the Twin Otter program and the Canadair CL 215 and 415 waterbomber series.
The transaction is subject to typical closing conditions and the receipt of regulatory approvals. The sale and transaction are expected to close by the second half of 2019.
Longview Aviation Capital Corp. (LAC) was established in 2016 to manage a portfolio of long-term investments in the Canadian aerospace industry. 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. With the addition of the Dash 8 Q Series, Longview holds the Type Certificates and entire product line of the original deHavilland aircraft company 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. Through Pacific Sky, Longview also operates the world's only certified Category "D" Full-Flight Simulator for the Series 400 Twin Otter, complete with seaplane simulation capabilities. Upon completion of the Q Series transaction, Longview will have a workforce of approximately 1,800 full-time employees in manufacturing and service support in locations across Canada including Victoria, Calgary and Toronto.
SOURCE Longview Aviation Capital Corp.