Bombardier has announced the signing of a letter of intent with EgyptAir at the ongoing Dubai Airshow, outlining the sale of up to 24 of its CSeries 300 (CS300) planes for a deal valued at approximately $2.8bn.
The announcement was made by Safwat Musallam, Chairman and CEO of EgyptAir, and Fred Cromer, President of Commercial Aircraft at Bombardier in a press conference held at the Dubai Airshow.
“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,” said Musallam. “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.”
“We’re thrilled that EgyptAir selected the CS300 aircraft to renew its fleet,” said Cromer. “Bombardier’s 20-year market outlook foresees demand for 450 airplanes in the 60- to 150-seat category for the region and this LOI confirms the need for right-sized aircraft in the Middle East.
The agreement stipulates a firm order contract for 12 jets for $1.4bn, with EgyptAir having the option to buy a further 12 planes at the same rate, should it decide to exercise its purchasing rights.