Viking & Reignwood Group Sign Strategic Partnership Agreement With Commercial Commitment for 50 Twin Otter Series 400 Aircraft
Reignwood Aviation Group of Beijing to Become Exclusive Representative for Viking Series 400 Twin Otter in China
Paris, France, June 17th, 2015: Following Transport Canada’s recent announcement that the Series 400 Twin Otter has received Type Certification by the Civil Aviation Administration of China (CAAC), Viking Air Limited of Victoria, BC, Canada and Reignwood Aviation Group of Beijing, China, have entered into an agreement forming a strategic partnership to develop the Chinese market with commercial commitment to purchase up to 50 aircraft to be delivered over the next five years.
At a signing ceremony held earlier today at the Paris International Air Show, Viking president & CEO David C. Curtis, and Christopher Wang, Executive Director of Reignwood Group, executed a strategic partnership agreement for the purchase of fifty aircraft including exclusive representation rights for the Series 400 Twin Otter in China.
Deliveries of Reignwood’s Series 400 Twin Otters will commence in the 4th quarter of 2015, with the first two aircraft configured in regional commuter landplane and amphibious floats.
In the coming weeks, Viking and Reignwood will also be working to determine a suitable location for the development of a factory endorsed completion and service center (FECSC). The FECSC will see aircraft manufactured at Viking’s Canadian factories destined for the Chinese market undergo customer completion and customization in-country.
David Curtis commented, “Reignwood’s world-class reputation and depth of experience in the aviation sector will give the Series 400 Twin Otter immediate traction in the Chinese market, which is anticipated to reach 500 aircraft over 20 years.” He added, “This strategic partnership will allow Viking to tap into this extensive market potential, where the seaplane segment in particular is expected to expand rapidly over the next ten years.”
About Reignwood Aviation Group:
With four subsidiary companies offering invaluable services to the aviation industry, Reignwood Aviation is a pillar of Reignwood Group’s strategy of investing in key developing markets. Services include airport construction, aircraft operations and maintenance, pilot recruitment and training and medical transport services. Reignwood Aviation aims to become a leader in China’s fast-growing domestic aviation industry.