EgyptAir in deal to buy 24 Bombardier C-Series planes

EgyptAir in deal to buy 24 Bombardier C-Series planes

EgyptAir in deal to buy 24 Bombardier C-Series planes

Bombardier has signed its second potential C Series order in less than two weeks after EgyptAir Holding Co. announced plans to purchase up to 24 of the plane's larger version. Cromer said both sales had already being under negotiation and were not the result of the Airbus venture.

Bombardier expects to turn EgyptAir's letter of intent into a firm order by the end of 2017, commercial aircraft chief Fred Cromer told reporters on a conference call Tuesday from Dubai. That would raise the number of firm C Series orders to more than 400. The deal is valued at $1.1 billion based on list prices.

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"It would be hard to wish for a better carrier to establish our presence in the region", Bole said in a conference call with reporters from Dubai.

He added that the new partnership with Bombardier emphasized the future vision for the Middle East and Africa, and will fulfill the market demands. 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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"It's a great template and it is something that will followed extremely closely by the other carriers in the regions and the sub regions in the area".

The EgyptAir LOI also includes purchasing options for a further 12 CSeries that, if exercised, would increase the total value of the deal to almost $2.2 billion. The aircraft had been plagued by delays and cost overruns, and recently was hit with 300% tariffs in the USA after a trade complaint by Boeing Co. A U.S. trade commission will decide in early 2018 on whether to impose duties of almost 300 percent on the planes as urged by the U.S. Commerce Department.

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