Bombardier Signs Letter of Intent with EgyptAir for Up to 24 CS300 Aircraft
Bombardier Commercial Aircraft announced today, from the Dubai Airshow, that it has signed a letter of intent (LOI) for up to 24 CS300 aircraft with EgyptAir Holding Company, of Cairo. This includes 12 CS300 aircraft with purchase rights for an additional 12 aircraft.
Based on the list price of the CS300 airliner, a firm-order contract would be valued at approximately $1.1 billion US. Should EgyptAir also exercise the 12 purchase rights for CS300 aircraft, the contract value would increase to nearly $2.2 billion US.
In the presence of His Excellency Minister of Civil Aviation of Egypt Mr. 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, Bombardier Commercial Aircraft celebrated the signature of the letter of intent, which opens 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 modernization strategy. We undertook a thorough evaluation process of our fleet and realized that the CS300 would fit perfectly into our business plans and growth strategy," said Safwat Musallam.
"We selected the C Series aircraft because its excellent range will allow us to best serve domestic and regional destinations, including neighboring 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."
"We're thrilled that EgyptAir selected the CS300 aircraft to renew its fleet, said Fred Cromer. 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. We are confident that our small single-aisle C Series is ideally-suited to serve the hot temperature environments of the region and will undoubtedly provide performance and economics that will drive higher profitability."
About EgyptAir
EgyptAir is the national airline of Egypt, based in Cairo. It was established on May 7th, 1932 as the first airline in the Middle East and Africa and the seventh in the world to join IATA. EgyptAir network reaches more than 70 destinations to about 60 countries around the world to meet the needs of its customers. EgyptAir is a Star Alliance member since July 2008.
More news and information are available at www.egyptair.com and EgyptAir official pages on social media.
About C Series Aircraft
The C Series is the only aircraft optimized for the 100 to 150-seat market segment, which drives the aircraft's phenomenal economic proposition and performance, opening up new opportunities for single-aisle aircraft operation. The C Series aircraft is manufactured by the C Series Aircraft Limited Partnership, an affiliate of the Bombardier Commercial Aircraft segment of Bombardier Inc.
Comprised of the CS100 and the larger CS300 aircraft, the C Series family represents the fusion of performance and technology. The result is aircraft that deliver unmatched performance and economics in the 100 to 150-seat market segment and an 18 per cent lower cost per passenger, making them the ideal candidates to complement larger single-aisle aircraft. Airlines can now operate routes that were previously not profitable or even possible. An improvement in range in excess of 20 per cent out of hot-and-high airports such as Denver, Mexico City or Lhasa has been confirmed.
Bombardier has created a new standard in cabin design and flexibility to ensure an unrivalled passenger experience. The aircraft's larger seats, overhead bins and windows deliver a wide-body feel that offers passengers unparalleled comfort in a single-aisle cabin.
The CS100 and the CS300 aircraft have over 99 per cent parts commonality as well as Same Type Rating. The groundbreaking Pratt & Whitney PurePower® PW1500G engine, combined with the aircraft's advanced aerodynamics, delivers reduced fuel burn, noise, and emissions - making the C Series the most community-friendly aircraft.
About Bombardier
Bombardier is the world's leading manufacturer of both planes and trains. Looking far ahead while delivering today, Bombardier is evolving mobility worldwide by answering the call for more efficient, sustainable and enjoyable transportation everywhere. Our vehicles, services and, most of all, our employees are what make us a global leader in transportation.
Bombardier is headquartered in Montréal, Canada and our shares are traded on the Toronto Stock Exchange (BBD). In the fiscal year ended December 31, 2016, we posted revenues of $16.3 billion. News and information are available at bombardier.com or follow us on Twitter @Bombardier.
