Friday, 24 November, 2017

EgyptAir signs letter of intent for up to 24 Bombardier CS300s

Chet Fuller Bombardier Aerospace's chief of sales and marketing exits a mock-up of a CSeries aircraft cabin at Bombardier Inc.'s manufacturing facility in Saint Laurent Que. on Feb. 24 2011. Montreal-based Bombardier has signed a letter of Bombardier, EgyptAir strike deal for up to 24 C Series jets
Heather Davidson | 15 November, 2017, 01:26

Bombardier Commercial Aircraft president Fred Cromer expects the order to be made firm by the end of this year.

On Nov. 2, as Bombardier issued its third quarter financial report, which claimed that a European customer, which it did not name, had signed a Letter of Intent for the purchase of up to 61 C Series aircraft, including 31 "firm".

"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".

Airbus has vowed to cut the aircraft's production costs and secure thousands of new orders for the plane, which Bombardier spent more than $6 billion to develop.

Last month, Airbus agreed to take a majority stake in the C-Series project.

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

Bombardier and Airbus could argue they are importing parts, like the wing from Northern Ireland, to be assembled in the United States.

The EgyptAir LOI also includes purchasing options for a further 12 CSeries that, if exercised, would increase the total value of the deal to almost $2.2 billion.

Bombardier has faced a series of problems over the plane, most recently a trade dispute in the USA that imposed a 300% import tariff.

Bombardier is in the process of axing 280 jobs at its factories in the North, and the group is still fighting a ruling from the US Commerce Department that could see import duties of 300 per cent imposed on every CSeries aircraft sold in the US.

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