Published: Wed, November 15, 2017
Markets | By Noel Gibbs

Bombardier gets second customer for its C series jet in a month

Bombardier gets second customer for its C series jet in a month

Bombardier said on Tuesday that EgyptAir had signed a letter of intent to purchase 24 CS300 jets from the Canadian company.

Egyptair CEO Safwat Musallam said during a press conference at the Dubai Airshow that the order is part of the airline's fleet modernisation strategy.

He added that the new partnership with Bombardier emphasized the future vision for the Middle East and Africa, and will fulfill the market demands.

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Earlier this month an unnamed European airline said it meant to buy at least 31 of the C-Series planes.

Bombardier is closing in on the second deal for its CSeries jet since reaching a landmark agreement with Airbus a few weeks ago that will see the European planemaker take control of the program to help revive the plane's fortunes.

The EgyptAir deal is valued at $1.1 billion based on list prices.

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Davy Thompson, Unite's regional co-ordinating officer for Northern Ireland, said the latest order for 12 CS300 Bombardier aircraft from the EgyptAir Holding Company is a positive signal for Northern Ireland.

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 deals.

A firm-order contract would be valued at around $1.1 billion and is EgyptAir buys all 24 planes the contract value would increase to almost $2.2 billion. The aircraft had been plagued by delays and cost overruns, and recently was hit with potentially crushing tariffs in the U.S. after a trade complaint by Boeing.

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