EgyptAir Converts Letter of Intent to Firm Order for Bombardier C Series Aircraft

Press release

Published January 7th, 2018 - 06:10 GMT

EgyptAir's Letter of Intent (LOI) was previously announced on November 14 during the 2017 Dubai Air Show.

Bombardier Commercial Aircraft and EgyptAir Holding Company announced today that the parties have executed a firm agreement for the sale and purchase of 12 CS300 aircraft along with purchase rights for an additional 12 CS300 aircraft.

EgyptAir's Letter of Intent (LOI) was previously announced on November 14 during the 2017 Dubai Air Show.

"As we look back at the C Series successful entry in service, we are thrilled that its many achievements are paving the way to further success. Welcoming EgyptAir to the family of C Series operators is another landmark moment for Bombardier," said Fred Cromer, President, Bombardier Commercial Aircraft. "The aircraft is performing exceptionally well, the industry recognizes the C Series as best in class, and this order from another well-established airline is testament to its tremendous value."

This order will enable EgyptAir to better serve domestic and regional destinations as well as several European and African destinations.

"The CS300's unique profitability profile will allow us to open up new opportunities and fits perfectly into our growth strategy," said Safwat Musallam, Chairman and CEO, EgyptAir." Our passengers will experience modern and best in class comfort, and we look forward to integrate this innovative and efficient aircraft to our fleet."

Based on the list price of the CS300 airliner, the firm-order contract would be valued at approximately US $1.1 billion. Should EgyptAir exercise the 12 purchase rights for CS300 aircraft, the contract value would increase to nearly US $2.2 billion.

Background Information

EgyptAir

EGYPTAIR is the world-renowned national airline of Egypt, based in the cosmopolitan city of Cairo. It started operations May 7th 1932 as the first airline in the Middle East and Africa and the seventh airline in the world to join IATA and become a treasured brand. Throughout its 80 years of service, EGYPTAIR has experienced significant growth.

Company Profile

Bombardier

With over 68,000 employees across four business segments, Bombardier is a global leader in the transportation industry, creating innovative and game-changing planes and trains. Our products and services provide world-class transportation experiences that set new standards in passenger comfort, energy efficiency, reliability and safety.

Headquartered in Montreal, Canada, Bombardier has production and engineering sites in 28 countries across the segments of Transportation, Business Aircraft, Commercial Aircraft and Aerostructures and Engineering Services. Bombardier shares are traded on the Toronto Stock Exchange (BBD). In the fiscal year ended December 31, 2018, Bombardier posted revenues of $16.2 billion US. The company is recognized on the 2019 Global 100 Most Sustainable Corporations in the World Index. News and information are available at bombardier.com or follow us on Twitter @Bombardier.