Egyp­tAir signs let­ter of in­tent with Bom­bardier for up to 24 CS300 air­craft

The Daily News Egypt - - Front Page -

Bom­bardier Inc. an­nounced that it has signed a let­ter of in­tent (LOI) with Egyp­tAir Hold­ing Com­pany for the lat­ter to pur­chase up to 24 CS300 air­craft. This in­cludes or­ders for 12 CS300 air­craft and the pur­chase rights for an ad­di­tional 12 air­craft.

Based on the listed price of the

CS300 air­liner, a firm-or­der con­tract would be val­ued at ap­prox­i­mately $1.1bn. Should Egyp­tAir also ex­er­cise the 12 pur­chase rights for CS300 air­craft, the con­tract value would in­crease to nearly $2.2bn.

In the pres­ence of Min­is­ter of

Civil Avi­a­tion Sherif Fathy, a press con­fer­ence was held at the Dubai

Air­show where Safwat Musal­lam, chair­man and CEO of Egyp­tAir

Hold­ing Com­pany and Fred Cromer, pres­i­dent of Bom­bardier Com­mer­cial Air­craft, cel­e­brated the sig­na­ture of the LOI, which opened a new chap­ter in the re­la­tion­ship be­tween the two com­pa­nies.

“It is our plea­sure to have this new part­ner­ship with Bom­bardier, which came as a con­tin­u­a­tion of our fleet mod­erni­sa­tion strat­egy.We un­der­took a thor­ough eval­u­a­tion process of our fleet and re­alised that the CS300 would fit per­fectly into our busi­ness plans and growth strat­egy,” said Musal­lam.

“We se­lected the C Series air­craft be­cause its ex­cel­lent range will al­low us to best serve do­mes­tic and re­gional des­ti­na­tions, in­clud­ing neigh­bour­ing Arab cities, the Mid­dle East, as well as sev­eral Euro­pean des­ti­na­tions. This is in ad­di­tion to the CS300 air­craft’s ex­cep­tional eco­nomics and out­stand­ing cabin.We look for­ward to ex­pand­ing our net­work with the CS300 and we are happy to see that the part­ner­ship an­nounced with Air­bus will bring added sup­port to the C Series pro­gram,” he added.

Min­is­ter of Civil Avi­a­tion Sherif Fathy

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