Bombardier Inc. announced that it has signed a letter of intent (LOI) with EgyptAir Holding Company for the latter to purchase up to 24 CS300 aircraft. This includes orders for 12 CS300 aircraft and the purchase rights for an additional 12 aircraft.
Based on the listed price of the CS300 airliner, a firm-order contract would be valued at approximately $1.1bn. Should EgyptAir also exercise the 12 purchase rights for CS300 aircraft, the contract value would increase to nearly $2.2bn.
In the presence of Minister of Civil Aviation Sherif Fathi, a press conference was held at the Dubai Airshow where Safwat Musallam, chairman and CEO of EgyptAir Holding Company and Fred Cromer, president of Bombardier Commercial Aircraft, celebrated the signature of the LOI, which opened a new chapter in the relationship between the two companies.
“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 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.