July 19, 2006, OnYourHorizon.com Heads Up
Horizon reaches tentative agreement to sublease up to 16 Q200s
Horizon Air has reached a tentative agreement with CommutAir to sublease up to 16 Q200s to the New York-based regional airline beginning next January, according to Rudi Schmidt, vice president, Finance.
The agreement aligns with the fleet plan announced in October 2005, when Jeff Pinneo, president and CEO, said the strategy was to "accelerate the transition of some Q200s out of the fleet more quickly . . . unless attractive market opportunities arise for them” in order to make way for the economically preferable Q400s.
CommutAir plans to operate the aircraft out of Cleveland, Ohio, under a fee-based flying agreement with Continental Airlines. Terms of the deal are still subject to final negotiations and the signing of a sublease agreement. More details will be made available when the final agreement is signed.