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EgyptAir signs letter of intent for up to 24 Bombardier CS300s

November 14, 2017 12:16 PM
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EgyptAir signs letter of intent for up to 24 Bombardier CS300s

Deal announced at a news conference at the Dubai Airshow could be worth $1.4B to $2.8B

Bombardier Inc. has secured a letter of intent from EgyptAir for the purchase of up to 24 of the Montreal-based company's larger C Series aircraft, the CS300.

The transportation giant announced the news at the Dubai Airshow, where the company said the deal is a firm order for 12 of the jets, plus an option to buy an additional 12.

The 130- to 160-seat jet has a list price of $89.5 million US, so buying 12 of them would cost almost $1.1 billion on paper, although Egypt's national airline would likely have paid less than that.

Bombardier hasn't landed a firm order for its jets in calendar 2017 and is facing a growing backlog on delivering the ones it has already sold.

Source: cbc.ca

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