EgyptAir and Bombardier sign agreement for twenty-four CS300 aircraft
November 15, 2017: Cairo- based EgyptAir Holding Company and Bombardier Commercial Aircraft signed a letter of intent (LOI) for up to twenty-four CS300 aircraft.
November 15, 2017: Cairo- based EgyptAir Holding Company and Bombardier Commercial Aircraft signed a letter of intent (LOI) for up to twenty-four CS300 aircraft. The latest order includes twelve CS300 aircraft firm purchase orders and 12 purchase rights.
The LOI was signed by Safwat Musallam, chairman and CEO of EgyptAir Holding Company and Fred Cromer, president, Bombardier Commercial Aircraft in the presence of Minister of Civil Aviation of Egypt Sherif Fathi during the Dubai Airshow.
Based on the list price of the CS300 airliner, a firm-order contract would be valued at approximately $1.1 billion. Should EgyptAir also exercise the 12 purchase rights for CS300 aircraft, the contract value would increase to nearly $2.2 billion.
“It is our pleasure to have this new partnership with Bombardier, which came as a continuation of our fleet modernisation strategy. We undertook a thorough evaluation process of our fleet and realised 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 neighbouring 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,” he added.
“We’re thrilled that EgyptAir selected the CS300 aircraft to renew its fleet. Bombardier’s 20-year market outlook foresees demand for 450 aeroplanes 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,” said Fred Cromer.