50 SKY SHADES - World aviation news

Bombardier signs Letter of intent with EgyptAir for up to 24 CS300 aircraft

Download: Printable PDF Date: 15 Nov 2017 07:33 categories:
Publisher:
Bombardier signs Letter of intent with EgyptAir for up to 24 CS300 aircraft - Manufacturer publisher
Krista Kuznecova
Country: United Arab Emirates Aircraft: Airplanes

This deal covers 12 firm orders and 12 purchase rights

Bombardier Commercial Aircraft announced, from the Dubai Airshow, that it has signed a letter of intent (LOI) for up to 24 CS300 aircraft with EgyptAir Holding Company, of Cairo. This includes 12 CS300 aircraft with purchase rights for an additional 12 aircraft.

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

In the presence of His Excellency Minister of Civil Aviation of Egypt Mr. Sherif Fathi, a press conference was held at the Dubai Airshow where Safwat Musallam, Chairman and CEO of EgyptAir Holding Company and Fred Cromer, President, Bombardier Commercial Aircraft celebrated the signature of the letter of intent, which opens a new chapter in the relationship between the two companies.

“It is our pleasure to have this new partnership with Bombardier, which came as a continuation of our fleet modernization strategy. We undertook a thorough evaluation process of our fleet and realized that the CS300 would fit perfectly into our business plans and growth strategy,” said Safwat Musallam.

“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. This is in addition to the CS300 aircraft’s exceptional economics and outstanding cabin. 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 Fred 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. We are confident that our small single-aisle C Series is ideally-suited to serve the hot temperature environments of the region and will undoubtedly provide performance and economics that will drive higher profitability.”

Related event:
12
November
2017
United Arab Emirates, Dubai, DWC, Dubai Airshow Site.


Archived
3 months ago



Loading comments for Bombardier signs Letter of intent with EgyptAir for up to 24 CS300 aircraft...


Recommended

AL172 Simulator successfully installed at BANYUWANGI Pilot School

Alsim is very pleased to announce that an AL172 simulator has been installed at the Banyuwangi Pilot School, East Java, Indonesia. The school signed for it at the end of last year. Dedi...

Oriens Aviation inaugurates Oriens Maintenance Services

New Authorised Pilatus Service Centre at London Biggin Hill Airport Oriens Aviation, the exclusive British Isles Pilatus Centre, formally inaugurated its new MRO facility, Oriens Maintenance Servic...

Report reveals least accurate airlines in 2017

Up to 20% of European flights are ruined by a cancelation or delay, but according to OAG, those travelling with airBaltic are 90% safe. Latvian carrier seems to be the exception to the rule, as the ma...

Bell to showcase vertical lift innovations at HAI Heli Expo 2018

Bell Helicopter will display its new air taxi cabin, along with the Bell 505 Jet Ranger X and Bell 525 Relentless from booth # C5122 at Heli Expo 2018, which takes place at the Las Vegas Convention Ce...