Bombardier inks $1.1 billion deal with EgyptAir for C Series jets

Bloomberg

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"We selected the C Series aircraft because its excellent range will allow us to best serve domestic and regional destinations, including neighbouring Arab cities, the Middle East as well as European destinations", said Safwat Musallam, chairman and chief executive of the the Cairo-based carrier. Cromer said both sales had already being under negotiation and were not the result of the Airbus venture.

The deal is the second firm order for Bombardier aircraft since last month's announcement that European plane maker Airbus would take over Bombardier's CSeries programme. "That will take our firm order book to over 400 airplanes". The deal is valued at $1.1 billion before discounts.

Bombardier has won a major order for its C Series aircraft from EgyptAir, worth at least $1bn.

Earlier this month, Montreal-based Bombardier said an unidentified European customer was planning to buy 31 CSeries aircraft with options for 30 more.

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EgyptAir is Bombardier's latest Middle East customer, having already signed agreements with Iraqi Airways, Bahrain's Gulf Air, among other regional carriers.

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.

Bombardier has faced a series of problems over the plane, most recently a trade dispute in the USA that imposed a 300% import tariff. The aircraft had been plagued by delays and cost overruns, and recently was hit with 300 percent tariffs in the US after a trade complaint by Boeing.

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