Bombardier has agreed to sell the bulk of Bombardier Capital’s business aircraft market portfolio to GE Commercial Equipment Financing (CEF), for US$339 million. The portfolio will be integrated into CEF’s existing corporate aircraft business, a player in the leasing and loan financing of corporate

aircraft and helicopters. Bombardier Capital’s business aircraft market portfolio is composed of loans and leases in relation to the financing of business aircraft.

The price represents the book value of the assets being sold.

Bombardier first announced its intention to withdraw from the financing of business aircraft in September, 2002.

“On April 3, when we disclosed our action plan to recapitalise Bombardier, we reiterated that a portion of our business aircraft portfolio had been earmarked for sale. We are pleased to announce this agreement with GE,” said Paul Tellier, president and ceo of Bombardier Inc.