Daily Archives: August 13, 2018

Bombardier Continues African Market Penetration with Pre-Owned Q400

  • PassionAir becomes first Bombardier operator in Ghana with three Q400 aircraft

MONTREAL, Aug. 13, 2018 (GLOBE NEWSWIRE) — Bombardier Commercial Aircraft announced today that the company successfully placed three pre-owned Q400 turboprops with PassionAir from the Republic of Ghana. The airline acquired the aircraft through a dry-lease with a third party.DDBC0480_Q400_PassionAir_10X8

“Bombardier has sold about 3,500 new regional aircraft to date, and we continue to be very active on the used aircraft market.” said David Speirs, Vice President, Asset Management, Bombardier Commercial Aircraft. “Our recent momentum on the pre-owned aircraft market worldwide is a clear indication that our products are addressing a growing need for regional air transportation, especially in emerging markets.”

“Our market penetration in Africa continues to intensify, and we are pleased to welcome Passion Air as the first commercial airline operating a Bombardier regional aircraft in the Republic of Ghana,” said Jean-Paul Boutibou, Vice President, Sales, Middle East and Africa, Bombardier Commercial Aircraft. “Africa is the youngest and fastest growing region in the world, and regional aircraft like the Q400 will play a key role in helping advancing Africa’s economic growth.”

The airline will operate the three Q400 aircraft in a 78-seat configuration on domestic routes.

“This is a first step, and we look forward to expanding our fleet with more Bombardier aircraft,” said Edward Annan, Chief Executive Officer, PassionAir. “The Q400 offers the performance and flexibility that we need to further develop our network. With a range that unlocks great opportunities for us, we are confident that we will capitalize on a larger market, which extends to 12 countries and over 180 million potential passengers out of Accra.”

About PassionAir
PassionAir is a Ghanaian owned airline, and aims to become the most competitive Aviation Service Provider in Ghana and West Africa. Our focus is on safety and excellent customer service delivery, depicting the proverbial Ghanaian hospitality. Our product lines range from scheduled to chartered flights offered at internationally accepted standards and competitive prices.

PassionAir as start off, will operate flights domestically, with plans of expanding our services to the West African sub-region in the medium term.

About Bombardier
With over 69,500 employees across four business segments, Bombardier is a global leader in the transportation industry, creating innovative and game-changing planes and trains. Our products and services provide world-class transportation experiences that set new standards in passenger comfort, energy efficiency, reliability and safety.

Headquartered in Montreal, Canada, Bombardier has production and engineering sites in 28 countries across the segments of Transportation, Business Aircraft, Commercial Aircraft and Aerostructures and Engineering Services. Bombardier shares are traded on the Toronto Stock Exchange (BBD). In the fiscal year ended December 31, 2017, Bombardier posted revenues of $16.2 billion US. News and information are available at bombardier.com or follow us on Twitter @Bombardier.

Notes to Editors
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Pictures of the Q Series aircraft are available on www.bombardier.com.

For more information about Bombardier Commercial Aircraft, visit http://commercialaircraft.bombardier.com/.

Bombardier, Q Series, Q400 are trademarks of Bombardier Inc. and its affiliates.

For Information

Nathalie Siphengphet
Head of Communications and Public Relations
Bombardier Commercial Aircraft
+1 416-375-3030
nathalie.siphengphet@aero.bombardier.com

www.bombardier.com

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/a7a12071-57c0-4623-a95c-2fea00764cb9

Board of directors meeting of Premier Insurance Limited

Karachi, Premier Insurance Limitedinformed Pakistan Stock Exchange that board of directors meeting of the company will be held on August 20, 2018 at Karachi. The agenda of the meeting will to consider the Half Yearly Accounts for the period ended June 30, 2018.

Further, the company has declared the closed period from August 13, 2018 to August 20, 2018.

Premier Insurance Limited was incorporated in Pakistan in May, 1952 as a public limited company. The operations of the business are related to general insurance. The registered office of the business is located in Karachi. The shares of the company are quoted on the Karachi, Lahore and Islamabad Stock Exchanges of Pakistan.

The products of the company includes property insurance, motor insurance, miscellaneous insurance, marine insurance, engineering insurance, shop owners insurance, group health insurance and specialized insurance.

The symbol “PINL” is being used by the stock exchanges for the shares of Premier Insurance Limited.

Board of directors meeting of Mari Petroleum Company Limited

Karachi, Mari Petroleum Company Limitedinformed Pakistan Stock Exchange that board of directors meeting of the company will be held on August 30, 2018 at Islamabad. The agenda of the meeting will to consider the Financial Accounts for the period ended June 30, 2018.

Further, the company has declared the closed period from August 20, 2018 to August 30, 2018.

Mari Gas Field was originally owned by Pakistan Stanvac Petroleum Project, a joint venture formed in 1954 between Government of Pakistan and M/s Esso Eastern Incorporated, having 49% and 51% ownership interest, respectively. The first gas discovery was made by the Joint Venture in 1957 when the first well in lower Kirthar ‘Zone-B’ Limestone Formation was drilled. Production from the field started in 1967. In 1983, M/s Esso Eastern transferred its entire share to Fauji Foundation, which set up a public limited company for the purpose of acquiring the assets and liabilities of the Project.

In 2001, the Company expanded its operations and entered into exploration business. The Company is now a major player in the Country’s oil and gas exploration and production sector operating eleven exploration and production assets (two D&P leases and nine operated blocks) and has partnership with leading national and international E&P companies in six non-operated blocks.

To reflect its diversified business operations and expanded activities, the name of the Company was changed from “Mari Gas Company Limited” to “Mari Petroleum Company Limited” (MPCL) in November 2012.

Board of directors meeting of GlaxoSmithKline Pakistan Limited

Karachi, GlaxoSmithKline Pakistan Limited informed Pakistan Stock Exchange that board of directors meeting of the company will be held on August 20, 2018 at Karachi. The agenda of the meeting will to consider the Quarterly Accounts for the period ended June 30, 2018.

Further, the company has declared the closed period from August 13, 2018 to August 20, 2018.

Glaxo Smith Kline Pakistan Limited is incorporated in Pakistan as a limited liability company. The company is engaged in manufacturing and marketing of research based pharmaceutical and consumer products. The company is a subsidiary of S.R. One International B.V., Netherlands, whereas its ultimate parent company is GlaxoSmithKline Plc, UK. The stocks of the company are quoted on the Karachi and Lahore Stock Exchanges of Pakistan.

The company was created on January 1, 2001 through the merger of SmithKline and French of Pakistan Limited, Beecham Pakistan Private Limited and GlaxoWellcome Pakistan Limited. Some of the pharmaceutical brands produced by the company include Augmentin, Seretide, Amoxil, Velosef, Zantac and Calpol and renowned consumer healthcare brands, which include Panadol, Horlicks, Aquafresh, Macleans and ENO.

The symbol “GLAXO” is being used by the stock exchanges for the shares of GlaxoSmithKline Pakistan Limited.

Board of directors meeting of PICIC Insurance Limited

Karachi, PICIC Insurance Limitedinformed Pakistan Stock Exchange that board of directors meeting of the company will be held on August 20, 2018 at Karachi. The agenda of the meeting will to consider the Quarterly Accounts for the period ended June 30, 2018.

Further, the company has declared the closed period from August 13, 2018 to August 20, 2018.

PICIC Insurance Limited was incorporated on April 23, 2004 under the Companies Ordinance 1984 as a public limited company and registered as a non-life insurance company by the Securities and Exchange Commission of Pakistan under the insurance ordinance, 2000. The registered office of the company is located at Karachi. The company is listed on the Karachi, Lahore and Islamabad stock Exchanges of Pakistan.

PICIC Insurance Limited is a part of the Temasek Group operating in Pakistan. NIB Bank Limited a subsidiary of the Temasek Group in Pakistan is a shareholder of PICIC Insurance Limited with a 30% stake.

The symbol “PIL” is being used by the stock exchange for the shares of PICIC Insurance Limited.

Board of directors meeting of Crescent Star Insurance Company Limited

Karachi, Crescent Star Insurance Company Limitedinformed Pakistan Stock Exchange that board of directors meeting of the company will be held on August 20, 2018 at Karachi. The agenda of the meeting will to consider the half yearly Accounts for the period ended June 30, 2018.

Further, the company has declared the closed period from August 14, 2018 to August 20, 2018.

Crescent Star Insurance Company Limited was incorporated as a public limited company in the year 1957 under the Companies Act, 1913 now the Companies Ordinance, 1984. The company is a member of Insurance Association of Pakistan. It deals in the general insurance business providing services relating to fire, marine, motor and miscellaneous insurance. The branches of the company are located country wide. The registered office of the company is located in Karachi. The stocks of the company are traded on the Karachi and Lahore Stock Exchanges of Pakistan.

The products of the company for the individual businesses include motor insurance, travel insurance, home care and shop owner’s policy. The services provided by the company to the businesses include fire & property insurance, marine cargo, marine hull, aviation, motor insurance, engineering insurance, health insurance and miscellaneous insurance related services.

The symbol “CSIL” is being used by the stock exchange for the shares of Crescent Star Insurance Company Limited.