North Saanich's Viking Air is joining forces with a Chinese organization to make and offer upwards of 500 Twin Otter planes amid the following two decades.
An agreement was marked today with Bejing's Reignwood Aviation Group for buying the 50 Twin Otters.
With a beginning cost of $7 million each, the deal worth from the starting arrangement ought to be of atleast $350 million.
This declaration is timely since Viking fired its 116 specialists in April after some of its clients retreated from requests for planes and the rate of offers hindered.
As such, 100 requests have come in for the planes, sent to 27 nations. A month ago, Viking declared it will be constructing another flight-preparing test system for the training of pilots.
This new agreement will make Reignwood the selective delegate for new Series 400 Twin Otters in China. Reignwood possesses organizations having some expertise in airplane related organizations, including aircraft operations as well as maintenance, airport construction, medical transport services, and pilot training.
The principal deliveries will occur this year for both aircraft and seaplanes working on land.
Viking and Reignwood will be attempting to discover an area for a manufacturing plant. While the agreement would mean planes will at present be made in Canada, they will be finished and altered for particular requests in China.
Viking’s president and CEO, named David Curtis, stated that Reignwood's world class notoriety and profundity of involvement in the aviation division will impart the Series 400 Twin Otter quick footing in the Chinese market, which is foreseen to achieve 500 air crafts for more than 20 years.
This organization means Viking will have the capacity to take advantage of this broad business sector potential, wherein the seaplane segment is anticipated to grow quickly throughout the following 10 years, he concluded.