Saturday, 25 November, 2017

EgyptAir signs deal with bombardier to buy 24 CSeries aircraft

Nellie Chapman | 14 November, 2017, 19:58

MONTREAL-Bombardier Inc. said its deal with Airbus has yet to ignite new sales discussions, but existing efforts have yielded results as the manufacturer announced a potential order with Africa's largest airline.

C-Series wings are made at Bombardier's Belfast operation, providing employment for about 1,000 people.

The two agreements, which total 43 firm CSeries orders, are expected to generate momentum for the narrowbody jets and follow an October decision by Airbus SE to take a majority stake in the plane program.

EgyptAir Airlines plans to buy 12 of Bombardier's biggest variant of the jet, the CS300, and has options for a further 12, the carrier said on Tuesday at the Dubai Air Show. This includes firm orders for 12 CS300 aircraft with purchase rights for an additional 12 CS300s.

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

Bole said, "I think it's a great template and it's something that will be followed extremely closely by the other carriers in the region", he said.

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

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 the Minister of Civil Aviation of Egypt, Sherif Fathi.

Bombardier has faced a series of problems over the plane, most recently a trade dispute in the United States that imposed a 300% import tariff. The aircraft had been plagued by delays and cost overruns, and recently was hit with 300 percent tariffs in the US after a trade complaint by Boeing.