Bombardier signs letter of intent with EgyptAir for up to 24 CS300 aircraft

Larger version of C Series aircraft, a firm order for 12 is valued at about $1.4 billion.

Bombardier’s larger version C Series aircraft, the CS3000. Photo: Erik Salard

MONTREAL — Bombardier Inc. has signed a letter of intent to sell up to 24 CS300 aircraft to EgyptAir Holding Co.

The CS300 is the larger version of Bombardier’s C Series aircraft.

The agreement announced at the Dubai Airshow includes 12 CS300 aircraft with purchase rights for an additional 12 aircraft.

Bombardier says that based on the list price of the CS300 that a firm order for 12 aircraft would be valued at about $1.4 billion.

If EgyptAir also exercises the 12 purchase rights, the contract value would double to roughly $2.8 billion.

EgyptAir is the national airline of Egypt.

News from © Canadian Press Enterprises Inc. 2016

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