EgyptAir inks $2.2bn 24-jet deal with Canada’s Bombardier

EgyptAir inks $2.2bn 24-jet deal with Canada’s Bombardier
EgyptAir and Bombardier officials signing the deal at the Dubai Airshow

By: Amr Adel

Dubai – Mubasher: National carrier EgyptAir on Tuesday signed a letter of intent (LOI) with Canada’s Bombardier to purchase 24 CS300 jets at a total value of $2.2 billion.

The deal, which was signed during the third day of the Dubai Airshow, saw the attendance of Egypt’s minister of civil aviation Sherif Fathy and EgyptAir Holding board chairman Safwat Musallam and Fred Cromer, president of commercial aircraft at Bombardier.

The deal entails 12 confirmed jets worth $1.1 billion to be delivered between 2018 and 2020, as well as options on another 12 jets during the period from 2020 until 2016.

EgyptAir chairman commented that the new jets were ready to be delivered and that the deal came after several studies by the company.

This deal comes as part of EgyptAir’s plans to support and diversify its fleet as well as raise efficiency and security, Musallam highlighted, indicating that the new jets were economically cost-effective.

The new jets will be used in domestic flights as well as close regional destinations, the top official added, noting that among these destinations are countries in the GCC, Middle East, and Europe.

Last month, EgyptAir’s board chairman had said that the Egyptian carrier was looking to purchase 33 new airplanes ranging between short, medium, and long-haul jets.

 

Translated by: Nada Adel Sobhi

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Source: Mubasher Exclusive

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