EgyptAir To Buy 12 Bombardier Aircraft For $1.1 Billion

EgyptAir To Buy 12 Bombardier Aircraft For $1.1 Billion

EgyptAir To Buy 12 Bombardier Aircraft For $1.1 Billion

The Bombardier logo is seen at the Bombardier factory in Belfast, Northern Ireland September 26, 2017.

He added that the new partnership with Bombardier emphasized the future vision for the Middle East and Africa, and will fulfill the market demands.

At the Dubai Airshow on Tuesday, EgyptAir signed a letter of intent for 12 firm and 12 optional C Series CS300 aircraft.

Bombardier has revealed that EgyptAir is planning to acquire up to 24 C-Series aeroplanes.

"We are respecting the customer's wishes to not disclose the identity", Cromer said from Dubai, referring to the European buyer.

Colin Bole, Bombardier's senior vice president of commercial aircraft, said there were no particular conditions or terms that needed to be met to finalize the two deals.

EgyptAir chief executive Safwat Musallam declined to provide a timeline for the CS300 deliveries once the order is finalised, but expects them to start before those of other Middle Eastern CSeries customers, which include Al-Qahtani Aviation and Gulf Air.

Canadian plane-and-train-maker Bombardier Inc is in advanced talks with EgyptAir over a potential $1.1 billion order for CSeries jets, Bloomberg reported, citing people familiar with the matter. The aircraft had been plagued by delays and cost overruns, and recently was hit with 300% tariffs in the U.S. after a trade complaint by Boeing Co. A U.S. trade commission will decide in early 2018 whether to impose duties of almost 300 percent on the planes as urged by the U.S. Commerce Department.

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