Bombardier Aerospace delivered its first flagship Global 7500 long-range business jet Dec. 20 at a ceremony at its Montreal headquarters.

“This revolutionary aircraft is the gateway to a transformed business aviation landscape and a very bright future,” said David Coleal, Bombardier Business Aircraft president.

Bombardier will lease the Global 7500 from its owner, whose name was not disclosed, to operate it on a demonstration tour this year. At the tour’s completion, the owner will take possession.

The $73 million Global 7500 was launched in 2010 as the Global 7000; the name change reflects a 300-nm increase in range during flight-testing to 7,700 nm. The aircraft also exceeded its original takeoff and landing performance commitments, including a takeoff distance of 5,800 ft., the company said.

The aircraft received type certification by Transport Canada last September and by the FAA in November. It made its first flight on Nov. 4, 2016.

The company has said it plans to deliver 3-5 aircraft during the first half of 2019 and 10-15 in the second half. It is sold out through 2021.

Bombardier describes the aircraft as “the world’s largest, longest range and most luxurious purpose-built business jet,” and as the only one in its segment with four living sections, a full-size kitchen and a special crew suite.

It comes equipped with the Vision flight deck with fly-by-wire technology and is powered by General Electric Passport engines that give it a top speed of Mach 0.925.