Palma Holding signs LOI for up to eight Q400s

Palma Holding Limited (Palma) has signed a letter of intent to acquire up to eight dual-class Q400 NextGen aircraft. The agreement would cover four firm-ordered aircraft and four options. Palma intends to lease four aircraft to Ethiopian Airlines. Based on the list price, the potential contract value for Palma’s transaction covering four Q400 NextGen aircraft and four options would be approximately $282 million US. “We are very pleased to become the first Middle Eastern lessor for Bombardier’s Q400 NextGen aircraft, and the first lessor worldwide for the aircraft’s dual-class configuration,” said Moulay Omar Alaoui, President, Palma Holding Ltd. “We are