EgyptAir signs letter of intent for up to 24 Bombardier CS300s

EgyptAir signs letter of intent for up to 24 Bombardier CS300s

EgyptAir signs letter of intent for up to 24 Bombardier CS300s

European plane maker Airbus SE recently agreed to take a majority stake in the C Series program, in exchange for Airbus's purchasing and marketing power and support for the aircraft that had few orders due to doubts over its future.

The deal includes 12 additional aircraft with purchase rights.

As of September 30, Bombardier had taken 360 total orders for CS100s and CS300s, and delivered just 19.

State-owned EgyptAir signed an initial order for 12 Bombardier Inc CSeries jets on Tuesday, marking the Canadian planemaker's second deal for the aircraft this month after a 1-1/2-year-long sales drought.

In Dubai, Ethiopian Airlines' chief executive said he would decide next year whether to buy CSeries or Brazil-based Embraer's E-jet series as a replacement for its Boeing's 737-7.

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

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. 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.

The CS300 carries a list price of $89.5m, although discounts of 50% or more are common in the industry. Swiss and Air Baltic, which began flying the CS300 in December, have reported better-than-expected fuel efficiency, which is key to the jet's appeal.

EgyptAir is separately expected to unveil a deal for at least six Boeing 787 Dreamliners, the first passenger jets made from lightweight carbon-fiber composites, said people familiar with the discussions.

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