Would-be regional jet manufacturer Alliance Aircraft says it has a letter of intent (LoI) for up to 450 of its planned StarLiner range of aircraft from Global Airlines, the US company trying to buy TWA.
In a joint statement issued at Farnborough, the companies outline a planned deal worth some $4.6 billion for the firm element and $3.6 billion for additional options.
The statement says Global Airlines and Alliance Aircraft announced "the execution of an agreement for Global Airlines" acquisition of 450 StarLiner 100, 200 and 300 series aircraft. Under the terms of the agreement 250 aircraft are firm orders with 200 options and 100 rolling options."
Deliveries of the aircraft, currently on the drawing board, are scheduled to begin in 2004. Alliance says the deal is its third order, although it has not identified the earlier customers, and its first for the 35-50-seat StarLiner 100 series as opposed to the baseline 70-90-seat StarLiner 200/300.Tim Ryan, Alliance executive vice-president of corporate development says: "These are aircraft that will go into the TWA fleet, but the order is not contingent on TWA because Global has a strategy for using regional jets anyway. The intention is to use TWA as the vehicle however."
Global chairman and chief executive Emil Bernard met with TWA unions at the weekend and is claiming to have the support of the airline's pilots and machinists for his proposed buy-out. He hopes to meet TWA's bankers shortly for renewed talks.
Source: Flight Daily News
