TORONTO -- Bombardier Commercial Aircraft says Philippine Airlines has signed a letter of intent to acquire up to 12 of its Q400 aircraft.

Bombardier (BBDb.TO) did not disclose a purchase price for the acquisition of the 86-seat turboprop aircraft.

Philippine Airlines is the country's flag carrier and serves more than 70 destinations at home and around the world.

Bombardier says about 190 of its aircraft are either in service or have been ordered by airlines in the Asia-Pacific region. The Montreal-based company also says it has firm orders on the books for a total of 565 Q400 aircraft.

Bombardier stock closed Thursday at $1.75 on the Toronto Stock Exchange, down two cents