Bombardier has received a $224m order for eight Q400 aircraft including five Q400 NextGen planes from Olympic Air’s owner MIG Aviation 3 at this year’s Paris Air Show.
The deal has an option for additional eight Q400s and if exercised the contract value will increase to $468m.
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The aircraft have been purchased under Olympic’s fleet replacement plan and will be operated by Pantheon Airways under the Olympic Air brand.
The Q400 NextGen is a newer version of the turboprop Q400 airliner, with better interior architecture and more overhead storage.
The aircraft can fly at cruise speed of 360kt and have a high rate of climb comparable to jet crafts.
MIG Aviation 3, a subsidiary of Marfin Investment Group Holdings SA, took over the state-owned Olympic Air from the Grecian Government in March 2009.
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By GlobalData
