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

/EINPresswire.com/ -- MONTREAL, QUEBEC--(Marketwired - Dec 29, 2017) -

Note to Editors: There is a photo associated with this press release.

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.

About Bombardier

Bombardier is the world's leading manufacturer of both planes and trains. Looking far ahead while delivering today, Bombardier is evolving mobility worldwide by answering the call for more efficient, sustainable and enjoyable transportation everywhere. Our vehicles, services and, most of all, our employees are what make us a global leader in transportation.

Bombardier is headquartered in Montréal, Canada and our shares are traded on the Toronto Stock Exchange (BBD). In the fiscal year ended December 31, 2016, we posted revenues of $16.3 billion. News and information are available at bombardier.com or follow us on Twitter @Bombardier.

Notes to Editors

Images of the CS300 aircraft are posted with this news release at www.bombardier.com.

The C Series Aircraft Limited Partnership, an affiliate of Bombardier Commercial Aircraft segment of Bombardier Inc. manufactures the C Series aircraft.

The C Series aircraft backgrounder is available in the BCA Media Hub.

For information about EgyptAir visit: www.egyptair.com

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Bombardier, CS100, CS300 and C Series are trademarks of Bombardier Inc. or its subsidiaries.

To view the photo associated with this press release, please visit the following link: http://media3.marketwire.com/docs/EgyptAir_CSeries_1.jpg

Nathalie Siphengphet
Manager, Communications and Public Affairs
Bombardier Commercial Aircraft
+1(450) 476-5792
nathalie.siphengphet@aero.bombardier.com
www.bombardier.com