Farnborough, England, July 11th, 2016: Viking Air Limited (“Viking”), a global leader of utility aircraft, support and services and manufacturer of the world-renowned Twin Otter, and Longview Aviation Asset Management, today announced a new relationship that will provide customers for both new-build and used Twin Otter aircraft with new financing alternatives and additional flexibility when considering their aircraft needs.
Longview Aviation Asset Management (“Longview”) is a newly formed entity set up to offer attractive leasing and financing options for utility Turbo Prop aircraft including new and used DHC-6 Twin Otter aircraft. Longview has entered into an agreement with Viking to acquire six new DHC-6 Series 400 aircraft and also has secured one used DHC-6 Series 400 aircraft (which is on display during the 2016 Farnborough International Airshow). Longview will offer these aircraft to the marketplace with competitive lease financing structures.
“Having manufactured and delivered 100 new Series 400 Twin Otters since 2010, and provided support and service to the larger legacy fleet of aircraft for even longer, we understand our customers’ challenges related to financing the purchase of our aircraft,” said Dan Tharp, Chief Operating Officer of Viking. “With this new relationship with Longview Aviation Asset Management we will be able to better meet our customers’ needs and aim to place more aircraft in service around the world.”
“In establishing Longview Aviation Asset Management, our goal is to provide customers with an available, flexible and responsive lease / financing option, offered at competitive rates and tailored to the specific needs of utility aircraft operators and owners,” said David Curtis, Chairman of Longview Aviation Capital. “The Twin Otter has the highest and best residual values of any Turbo Prop in its class and we intend to leverage this in order to provide our customers with competitive financing.”
Through its close connection to the factory, Longview Aviation Asset Management expects to introduce financing products for other utility aircraft in the coming months.
Longview Aviation Asset Management and its parent Longview Aviation Capital are part of the portfolio of a prominent Canadian family office investment firm which maintains a long-term investment horizon and is one of the leading investors in the Canadian aviation industry.
Viking at Farnborough 2016
From July 11th to 17th, 2016 a Series 400 Twin Otter will be available for viewing on aircraft static display at the Farnborough International Airshow. Viking representatives will be onsite at Outdoor Exhibit OE 28 to assist interested parties with viewing the aircraft.
More information on financing options is available through Longview’s website at www.lvav.ca.
Headquartered in Victoria, BC, Viking is the global leader in utility aircraft support and services, and the manufacturer of the world-renowned Series 400 Twin Otter. Viking is the Original Type Certificate holder for all out-of-production De Havilland aircraft, from the DHC-1 Chipmunk through the DHC-7 DASH-7 50-passenger STOL regional airliner, and provides exclusive spare parts manufacturing for the legacy De Havilland fleet.
In 2007 Viking launched the Twin Otter Series 400 production program, and to date over 125 new aircraft have been sold to 29 countries worldwide, averaging a production rate of one new aircraft delivered every 15 business days.
In June 2016 Viking entered into an agreement to acquire Bombardier’s amphibious aircraft program, including the Bombardier CL-415 waterbomber and its variants, as well as the earlier CL-215 and CL-215T versions. The acquisition includes the Type Certificates (manufacturing rights) for all variants of the aircraft and Viking will also assume responsibility for product support, parts and service for the fleet of 170 waterbombers in service around the world. The transaction is expected to close before fall 2016.