June 13, 2012 / 12:53 PM / in 5 years

Bombardier wins $65 million order for five Learjets

(Reuters) - Bombardier Inc (BBDb.TO) said fleet operator London Air Services has placed firm orders for five Learjet 75 business aircraft in a deal valued at about $65 million based on the list price for the light jet.

Bombardier, which competes with Brazil’s Embraer (EMBR3.SA), Airbus EAD.PA and Boeing (BA.N), said the Learjet 75 aircraft will be able to fly four passengers and two crew members from Los Angeles to Toronto and Mumbai to Bangkok.

“The new jet will be a great complement to our existing fleet of Bombardier business aircraft,” said Wynne Powell, CEO of London Air Services, which currently has a fleet of five Learjet 45 XR aircraft.

London Air Services, based in Richmond, British Columbia, is the first Canadian operator to place a firm order for Learjets, Bombardier’s aerospace unit said in a statement.

Bombardier recently won what is described as the biggest business jet order in private aviation history when NetJets, a jet-sharing company owned by Warren Buffett’s Berkshire Hathaway Inc (BRKa.N), agreed to buy up to 425 new business jets.

Shares of Montreal-based Bombardier, which also makes trains, closed at C$3.87 on Tuesday on the Toronto Stock Exchange.

Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by Viraj Nair

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