EgyptAir has signed a letter of intent with
Bombardier for up to 24 CS300.
The LOI includes 12 CS300 aircraft with
purchase rights for an additional 12 aircraft.
Based on the list price of the CS300
airliner, a firm-order contract would be valued at approximately
US$1.1 billion, or US2.2 billion should EgyptAir also exercise the
12 purchase rights for CS300 aircraft.
“It is our pleasure to have this new partnership
with Bombardier, which came as a continuation of our fleet
modernization strategy. We undertook a thorough evaluation process
of our fleet and realized that the CS300 would fit perfectly into
our business plans and growth strategy,” said Safwat Musallam,
Chairman and CEO of EgyptAir Holding Company.
“We selected the C Series aircraft because its excellent range
will allow us to best serve domestic and regional destinations,
including neighboring 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.”
Fred Cromer, President, Bombardier Commercial
Aircraft, said, “We’re thrilled that EgyptAir
selected the CS300 aircraft to renew its fleet. Bombardier’s 20-year market outlook foresees demand for 450
airplanes 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.”
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