Longview launches De Havilland Canada with close of $300 mln deal


Photo courtesy of Longview Aviation Capital Corp

Longview Aviation Capital Corp has acquired the Dash 8 turboprop program, and the rights to the de Havilland name and trademark, from Bombardier Inc.

In a separate release, Bombardier, which acquired de Havilland in 1992 from Boeing Co, said the deal generated proceeds of about $300 million.

With the close, Longview launched De Havilland Aircraft of Canada Ltd. The company, led by COO Todd Young, formerly of Bombardier, will operate the Dash 8 aircraft business, which includes the in-production Q400 program.

De Havilland Canada will produce, service and support Dash 8 and Q400 aircraft from the Downsview site in Toronto.

Founded in 2016, Longview makes long-term investments in the Canadian aerospace industry.

PRESS RELEASE

De Havilland Aircraft of Canada Returns to the Skies

Iconic aviation brand becomes trade name for global Dash-8 / Q400 aircraft business

TORONTO, June 3, 2019 /CNW/ – Longview Aviation Capital Corp., manager of a portfolio of long-term investments in the Canadian aerospace industry, today launched De Havilland Aircraft of Canada Limited ­– the trade name of the subsidiary company that will operate the worldwide Dash 8 aircraft business. The launch comes with the formal completion of the transaction through which Longview acquired the entire Dash 8 program including the 100, 200 and 300 series and the in-production Q400 program from Bombardier Inc. The Dash 8 joins Longview’s comprehensive portfolio of aircraft programs, 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.

Commented David Curtis, Chairman, Longview Aviation Capital:

“We are thrilled to assume responsibility for this exceptional aircraft program, and welcome the more than 1200 professionals that are joining De Havilland Aircraft of Canada from Bombardier. We aim to enhance the tradition of excellence around this aircraft by ensuring we continue to evolve to meet the needs of our customers, with a focus on the cost competitiveness of these aircraft across the lifespan, from production to parts and in-service support. In the months ahead we will be investing in the business with the aim of positioning us to better serve our customers.”

“We are particularly proud to introduce De Havilland Aircraft of Canada as an operating company and return the De Havilland Canada brand to prominence in the global aerospace industry. The iconic De Havilland name dates back almost one hundred years, and is responsible for some of the most renowned aircraft in aviation history. The combination of the Dash 8 with the existing Longview Aviation Capital portfolio unites the entire De Havilland product line under the same banner for the first time in decades. With a new corporate identity that draws on the rich brand heritage, we are excited about the opportunities we see ahead for this company, and for the Dash 8 aircraft.”

De Havilland Aircraft of Canada Limited will continue to produce, service and support Dash 8 and Q400 aircraft from the Downsview site in Toronto under land lease agreements which extend until 2023. Todd Young, a 30-year veteran of Bombardier who most recently was responsible for the Q-Series program, will lead the business as Chief Operating Officer. Nearly all of the previous Downsview workforce, and all existing union agreements, have transitioned to De Havilland Aircraft of Canada, ensuring operational continuity and a seamless transition for customers.

“We are excited to begin the next chapter for this aircraft program and to share the De Havilland Aircraft of Canada brand with the world,” said Mr. Young. “Our team at Downsview is engaged and motivated, and we look forward to working with our customers, suppliers and industry partners to maintain the Dash 8 turboprop’s position as one of the world’s most important commercial aircraft.”

De Havilland Aircraft of Canada Limited has obtained all regulatory approvals from Transport Canada and relevant competition authorities.

Note to editors: high resolution logo and brand files for De Havilland Aircraft of Canada are available at: www.DeHavilland.com.

About Longview Aviation Capital Corp.

Longview Aviation Capital Corp. (LAC) was established in 2016 to manage a portfolio of long-term investments in the Canadian aerospace industry. In addition to De Havilland Aircraft of Canada Ltd., 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. Longview holds the Type Certificates and entire product line of the original De Havilland 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. Longview has a workforce of approximately 1,800 full-time employees in manufacturing and aircraft service support in locations across Canada, including Victoria, Calgary and Toronto.

For further information: Trevor Zeck, Longview Communications, 604.375.5941, tzeck@longviewcomms.ca