EgyptAir has signed a letter of intent (LOI) for up to 24 Bombardier CS300s.
The deal, which was announced on day three of the Dubai Airshow, consists of 12 airframes and 12 purchase rights. If EgyptAir exercises all 12 purchase rights, the firm order is valued at nearly $2.2bn.
“It is our pleasure to have this new partnership with Bombardier, which came as a continuation of our fleet modernisation strategy,” explained Safwat Musallam, Chairman and CEO of EgyptAir Holding Company. “We undertook a thorough evaluation process of our fleet and realised that the CS300 would fit perfectly into our business plans and growth strategy.”
Musallam highlighted the aircraft’s range as a key factor in the airline’s decision saying it enabled the carrier to serve domestic and regional destinations as well as the Middle East and Europe.
“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 programme,” he added.
Fred Cromer, President, Bombardier Commercial Aircraft, said: “We’re thrilled that EgyptAir selected the CS300 aircraft to renew its fleet. 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.”