Montreal - Canadian aircraft manufacturer Bombardier on Friday announced the sale of 12 C Series aircraft to EgyptAir in a deal worth US$1.1 billion. The company said it signed a letter of intent last month for the sale of the 160-seat CS300 planes, with an option for another 12, and that was converted into a firm purchase agreement. The deal would be worth nearly US$2.2 billion if EgyptAir buys the additional 12 planes, according to a statement from Bombardier Commercial Aircraft.
This order, together with another for 31 aircraft from an unidentified European company in early November, has given a boost to the Canadian manufacturer after seeing delays and the doubling of costs in the C Series program: “The aircraft is performing exceptionally well, the industry recognizes the C Series as best in class, and this order from another well-established airline is testament to its tremendous value,” said Fred Cromer, president of Bombardier Commercial Aircraft.
Bombardier also got a boost from a deal with European aerospace firm Airbus which took the majority stake in the subsidiary building the C Series single-aisle planes, just as its American competitor Boeing convinced President Donald Trump’s administration to impose import tariffs of nearly 300 percent on the planes.