Wednesday, 22 November, 2017

Bombardier, EgyptAir strike deal for up to 24 C Series jets

A model of Bombardier C Series aeroplane is seen in the Bombardier offices in Belfast Northern Ireland Bombardier, EgyptAir strike deal for up to 24 C Series jets
Mae Harvey | 15 November, 2017, 01:25

Bombardier did not immediately respond to a request for comment.

But the EgyptAir letter of intent to purchase the jets includes options for a further 12 CSeries that, if exercised, would increase the total list value of the deal to almost $2.2 billion.

EgyptAir Holding has signed a Letter of Intent (LOI) with Bombardier (BBA, Montréal Trudeau) for twelve firm CS300s with purchase rights for an additional twelve of the type. The company expects to deliver 20-22 C Series jets this year, an output impacted by engine delivery delays from Pratt & Whitney.

"EgyptAir has signed a letter of intent for 12 CS300 aircraft, and will take options on a further 12", the statement added.

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Bombardier CEO Alain Bellemare told analysts two weeks ago that he expected sales of the C Series would accelerate following the deal with Airbus.

Mr Thompson said Bombardier's CSeries aircraft programme now accounts for 1,000 jobs in the North and every order is welcome.

Less than a month after Airbus agreed to rescue Bombardier's struggling C Series jet program, Bombardier has announced a second order for the narrowbody passenger plane. The C Series was two-and-a-half years late and more than $2bn over budget when it entered service at Deutsche Lufthansa's Swiss International unit in July 2016. "Swiss and Air Baltic Corp., which began flying the CS300 in December, have reported better-than-expected fuel efficiency, which is key to the jet's appeal".

We're thrilled that EgyptAir selected the CS300 aircraft to renew its fleet.

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