Bombardier lands $1.1 billion EgyptAir deal

Bombardier lands $1.1 billion EgyptAir deal

The agreement will see EgyptAir buy at least 12 of the CS300 passenger jets, with options to buy a further 12.

"Bombardier's 20-year market outlook foresees demand for 450 airplanes in the 60- to 150-seat category for the region and this letter of intent confirms the need for right-sized aircraft in the Middle East", said Cromer. A U.S. trade commission will decide in early 2018 whether to impose duties of almost 300 percent on the planes as urged by the U.S. Commerce Department.

Bombardier sealed the second deal for its C series jet since reaching a landmark agreement with Airbus a few weeks ago that will result in the European aircraft maker taking control of the programme and helping revive the fortunes of the narrow-body aircraft.

Montreal-based Bombardier Inc. has signed a letter of intent to sell up to 24 CS300 aircraft to EgyptAir Holding Co.




EgyptAir Chairman Safwat Moslem told a Dubai Airshow news conference the CS300 aircraft would be used by the airline's domestic and regional carrier EgyptAir Express.

The Bloomberg story suggests that Airbus bought into a struggling but promising program: "The C Series was two-and-a-half years late and more than $2 billion over budget when it entered service at Deutsche Lufthansa AG's Swiss International unit in July 2016".

Bombardier and EgyptAir said they hoped to finalize the deal before the end of 2017, the statement added. Egypt civil aviation minister Sherif Fathy said in October that the government expected to pay about $3.3bn of the cost to acquire 45 aircraft.

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