EgyptAir commits to 24 Bombardier CS300s

The two orders, the other for 31 aircraft from an undisclosed European buyer, are expected to be finalized by the end of 2017, a senior Bombardier executive said.

EgyptAir has signed a a letter of intent for up to 24 CS300 aircraft which includes12 CS300 aircraft with purchase rights for an additional 12 aircraft.

On Oct. 25, Bombardier responded hotly to a decision by Moody's rating service to downgrade Bombardier's credit rating and outlook. The company expects to deliver 20-22 C Series jets this year, an output impacted by engine delivery delays from Pratt & Whitney.

EgyptAir has agreed to purchase 12 orders from Bombardier with the option for a further 12.

Bombardier CEO Alain Bellemare told analysts two weeks ago that he expected sales of the C Series would accelerate following the deal with Airbus.

EgyptAir intends to finalise a commitment to order 12 Bombardier CS300s by year-end and become the type's launch operator in the Middle East and North Africa region, the Canadian manufacturer disclosed today at the Dubai air show. By contrast, Airbus figures released in October show that it has received orders for more than 13,000 A320-family jets and delivered almost 8,000.

Airbus agreed in October to take a majority stake in Bombardier's CSeries jetliner program, and has said any CSeries jets intended for the US market would be built at its production facility in Alabama, potentially allowing the planes to avoid punitive duties.

"We undertook a thorough evaluation of our fleet and realised that the CS300 would fit perfectly into our business plans and growth strategy", said Musallam.

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