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Wed, Jan 03, 2018

EgyptAir Converts Letter Of Intent To Firm Order For C Series Aircraft

Deal For Twelve Airliners Valued At $1.1 Billion

Bombardier Commercial Aircraft and EgyptAir Holding Company have have executed a firm agreement for the sale and purchase of 12 CS300 aircraft along with purchase rights for an additional 12 CS300 aircraft.

EgyptAir's Letter of Intent (LOI) was previously announced on November 14 during the 2017 Dubai Air Show.

"As we look back at the C Series successful entry in service, we are thrilled that its many achievements are paving the way to further success. Welcoming EgyptAir to the family of C Series operators is another landmark moment for Bombardier," said Fred Cromer, President, Bombardier Commercial Aircraft. "The aircraft is performing exceptionally well, the industry recognizes the C Series as best in class, and this order from another well-established airline is testament to its tremendous value."

This order will enable EgyptAir to better serve domestic and regional destinations as well as several European and African destinations.

"The CS300's unique profitability profile will allow us to open up new opportunities and fits perfectly into our growth strategy," said Safwat Musallam, Chairman and CEO, EgyptAir." Our passengers will experience modern and best in class comfort, and we look forward to integrate this innovative and efficient aircraft to our fleet."

Based on the list price of the CS300 airliner, the firm-order contract would be valued at approximately $1.1 billion. Should EgyptAir exercise the 12 purchase rights for CS300 aircraft, the contract value would increase to nearly $2.2 billion.

(Image provided with Bombardier news release)

FMI: www.bombardier.com

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