EgyptAir announced yesterday (December 29, 2017) that it has finalized a firm order for twelve (12) Bombardier CS300 aircraft with purchase rights for an additional twelve (12) planes. The carrier’s Letter of Intent was initially announced at the 2017 Dubai Air Show.
EgyptAir says that the new planes will help it to serve several domestic, regional, European, and African destinations better.
“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 of 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.”
“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 of 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 a testament to its tremendous value.”
The value of the 12 planes that EgyptAir has firmly ordered is $1.1 billion at list prices. If EgyptAir decides to exercise the additional purchase rights it has been granted, the price will go up to $2.2 billion. Aircraft manufacturers generally provide discounts on bulk orders of jets. EgyptAir may receive a discount that is larger than normal for this order because it is an early purchase.
When EgyptAir first announced its interest in the CS300 at the Dubai Air Show, it said that, though it had been interested in the aircraft for some time, Airbus’s involvement with the C Series program provided EgyptAir with additional confidence in the plane.
The CS300 has already been ordered by carriers in the region such as Iraqi Airways, Saudi Gulf, and Gulf Air.
Featured image by Francois Mori (Canadian Press)