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Rockton signs LOI with Mitsubishi Aircraft for purchase of up to 20 MRJ
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FARNBOROUGH, Hampshire, England, July 11, 2016 –
Mitsubishi Aircraft Corporation and Rockton AB, a regional aircraft leasing company based in Sweden, announced today the entering into a Letter of Intent (LOI) for an order of ten firm MRJ90 aircraft with an option for an additional ten MRJ90 aircraft. Based on this LOI, the companies will move forward to conclude a definitive agreement in the near future. The LOI testifies to the high regard in which Rockton holds the Mitsubishi Regional Jet (MRJ), the next-generation regional jet. Rockton is the first European company and second lessor in MRJ program to select the MRJ. Deliveries to Rockton are scheduled to commence in 2020.
Niklas Lund, President, Rockton said, “We find the MRJ airliner to be an exceptional product that will be operating worldwide in a not too distant future. Rockton is, with great anticipation, looking forward to developing and expanding the future operator base in close co-operation with Mitsubishi Aircraft Corporation. The MRJ is a game changer. Efficient clean-sheet design, unrivalled passenger comfort and new state-of-the-art Pratt & Whitney PW1200G engines herald the future of regional air travel. This new aircraft will provide crucial economic benefits to airlines looking to operate in the 70-90 passenger size segment, especially in comparison with current products. The MRJ fits well into the European market where noise and emission requirements are very stringent. Furthermore, the long range capability of the aircraft allows regional airlines to open new routes from local airports. We are thrilled to work closely with an OEM like Mitsubishi Aircraft Corporation with its long and solid standing within the aerospace industry.”
“This European lessor order from Rockton will give the MRJ program the burst of momentum to expand customer base in Europe,” said Hiromichi Morimoto, President, Mitsubishi Aircraft Corporation. “We are pleased to conclude this LOI with Rockton and to build a strong partnership to market the MRJ in Europe. We firmly believe that the combination of expertise of Rockton and the state-of-the-art MRJ will create a new path to the European lease financing market and provide a variety of solutions for customers.”
Thus far, 407 MRJ aircraft are on order and 40 will be added to its order book when Mitsubishi Aircraft signs a definitive agreement with Rockton and Aerolease Aviation. The total of 447 MRJ aircraft include 243 firm orders with 180 options and 24 purchase rights.
Mitsubishi Aircraft anticipates demand of about 5,000 aircraft in the regional jet market over the next twenty years. Demand for regional aircraft is expected to increase for both airlines and leasing companies. This LOI with Rockton, the second lessor following Aerolease Aviation, enables the company to accelerate sales efforts in the regional jet market. Mitsubishi Aircraft remains firmly committed to the success of the MRJ program as well as the growth of Japan’s aviation industry.
About Rockton AB
Rockton is a regional passenger aircraft leasing company with a long history of helping airlines grow their business in a flexible and financially effective manner. The focus is on the most efficient regional aircraft types, which are typically made available on operating leases. Rockton has been operating since 1998 and is headquartered in Stockholm, Sweden.
About MRJ
Mitsubishi Regional Jet is a family of 70~90-seat next-generation aircraft featuring the Pratt & Whitney's revolutionary PurePower® engine and stateof-the-art aerodynamics to drastically reduce fuel consumption, noise, and emissions, while offering top-class operational benefits, an outstanding cabin designed for heightened passenger flying comfort with large overhead bins. The MRJ carried out the first flight on November 11, 2015.
About MHI Group
Mitsubishi Heavy Industries (MHI) Group is one of the world’s leading industrial groups, spanning energy, smart infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world. For more information, please visit www.mhi.com or follow our insights and stories on spectra.mhi.com.