Bombardier, EgyptAir strike deal for up to 24 C Series jets

Tuesday, 14 Nov, 2017

Bombardier Inc. has signed a letter of intent to sell up to 24 CS300 aircraft to EgyptAir Holding Co.

EgyptAir, the flag carrier airline of Egypt, has signed a letter of intent for buying 24 CSeries aircraft from the Canadian aircraft maker Bombardier for a total price of almost 2.2 US billion dollars, EgyptAir said in a statement on Tuesday.

The purchase gives Bombardier another customer for its new jet less than a month after the company agreed to cede control of the C Series to Airbus in exchange for the European planemaker's marketing heft and manufacturing expertise.

The value of the agreement would increase to almost $2.2 billion if options to acquire a further 12 CS300s are exercised, the statement said.

To date, Bombardier is thought to have won orders for more than 400 of the C Series aircraft.

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 US trade department imposed tariffs of 300% on the C Series as it upheld a complaint from Boeing over subsidies the aircraft received from the Canadian and United Kingdom governments.