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lakeelmoleader.com November 21, 2017


Bombardier lands $1.1 billion EgyptAir deal

15 November 2017, 01:23 | Frank Carlson

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

Bombardier Sales

EgyptAir is the national airline of Egypt.

"We selected the C Series aircraft because its excellent range will allow us to best serve domestic and regional destinations, including neighboring Arab cities, the Middle East as well as several European destinations".

After the decision, Bombardier sold a majority stake in its C Series jet business to European aerospace giant Airbus for no cost.

As part of the Airbus venture, Bombardier has said it would invest $300 million to set up an Alabama assembly line for CSeries purchased by American carriers.

The Bombardier logo is seen at the Bombardier factory in Belfast, Northern Ireland September 26, 2017.

EgyptAir Airlines plans to buy 12 of Bombardier's biggest variant of the jet, the CS300, and has options for a further 12, the carrier said on Tuesday at the Dubai Air Show.

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Earlier this month, Montreal-based Bombardier said an unidentified European customer was planning to buy 31 CSeries aircraft with options for 30 more.

"We are respecting the customer's wishes to not disclose the identity", Cromer said from Dubai.

Colin Bole, Bombardier's senior vice president of commercial aircraft, said there were no particular conditions or terms that needed to be met to finalize the two deals.

Bole said, "I think it's a great template and it's something that will be followed extremely closely by the other carriers in the region", he said.

Bombardier says that based on the list price of the CS300, a firm order for 12 aircraft would be valued at about $1.4 billion. The aircraft had been plagued by delays and cost overruns, and recently was hit with 300% tariffs in the USA after a trade complaint by Boeing Co. The aircraft had been plagued by delays and cost overruns, and recently was hit with 300 percent tariffs in the USA after a trade complaint by Boeing.



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