CARIBBEAN AIRLINES PAYS $1.8M TO ATR FOR ORDER

Dino D'Amore
By Dino D'Amore December 1, 2010 14:17

CARIBBEAN AIRLINES PAYS $1.8M TO ATR FOR ORDER

Caribbean Airlines had made a downpayment of $1.8 million to ATR for its $200 million order of nine new turbo prop aircraft.

Details of the deal were revealed in an attorney’s letter on behalf of fired CEO Ian Brunton. The order is the result of an extensive six-month evaluation process, which compared options from ATR and rival Bombardier.

Under the terms of the order, the airline stands to lose the downpayment unless it honours the remainder of the order agreement. The letter appears to infer that one of the benefits of ordering the ATR aircraft includes the manufacturer’s assistance in the establishment of a maintenance facility at Piarco.

Dino D'Amore
By Dino D'Amore December 1, 2010 14:17
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