Bombardier Commercial Aircraft and EgyptAir Holding Company announced that the parties 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,” he added.
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. Our passengers will experience modern and best in class comfort, and we look forward to integrate this innovative and efficient aircraft to our fleet,” said Safwat Musallam, Chairman and CEO, EgyptAir.
Based on the list price of the CS300 airliner, the firm-order contract would be valued at approximately US $1.1 billion. Should EgyptAir exercise the 12 purchase rights for CS300 aircraft, the contract value would increase to nearly US $2.2 billion.
Bombardier is the world’s leading manufacturer of both planes and trains. Looking far ahead while delivering today, Bombardier is evolving mobility worldwide by answering the call for more efficient, sustainable and enjoyable transportation everywhere.
Bombardier is headquartered in Montréal, Canada. In the fiscal year ended December 31, 2016, Bombardier posted revenues of $16.3 billion.