Egyp­tian car­rier places 12 firm or­ders for CS300 planes

Arab News - - BUSINESS -

DUBAI: Cana­dian air­craft maker Bom­bardier said Tues­day it had agreed to sell up to 24 CSeries air­craft to Egyp­tAir for a to­tal price tag of nearly $2.2 bil­lion.

Ac­cord­ing to a let­ter of in­tent signed be­tween both com­pa­nies, the Egyp­tian car­rier placed 12 firm or­ders for CS300 planes and took out pur­chase rights for an­other 12, Bom­bardier said in a state­ment re­leased dur­ing the Dubai air show. The deal is the sec­ond firm or­der for Bom­bardier air­craft since last month’s an­nounce­ment that Euro­pean plane maker Air­bus would take over Bom­bardier’s CSeries pro­gram.

The pre­vi­ous sale cov­ered 31 air­craft for an uniden­ti­fied Euro­pean client. Bom­bardier’s sin­gle-aisle CSeries pro­gram cov­ers the 100 to 150-seat seg­ment and is com­prised of the CS100 model and the larger CS300.

Egyp­tAir, founded in 1932, is the old­est air­line in the Mid­dle East and Africa, and Egypt’s na­tional air­line, fly­ing to 70 des­ti­na­tions in 60 coun­tries.

Bom­bardier in Oc­to­ber ceded con­trol of the CSeries to Air­bus, aban­don­ing hope of as­cend­ing into the top ech­e­lons of pas­sen­ger air­craft man­u­fac­tur­ing along­side ri­vals Air­bus and Boe­ing, but se­cur­ing US mar­ket ac­cess for its new jet­lin­ers.

The Euro­pean air­craft man­u­fac­turer took a 50.1-per­cent stake in the CSeries pro­gram in ex­change for us­ing its sales and mar­ket­ing heft to lift CSeries sales.

A Bom­bardier CSeries air­craft. (Reuters)

Newspapers in English

Newspapers from Saudi Arabia

© PressReader. All rights reserved.