Posted on: 14 November 2017
Cairo-based EgyptAir has signed a Letter of Intent (LoI) with Bombardier Commercial Aircraft for up to 24 of the manufacturer’s CS300 single-aisle aircraft in a deal valued at up to US$2.2 billion if all options are exercised.
The LoI is for 12 firm orders (valued at $1.1 billion) and purchase rights for 12 more, with the deal signed at the Dubai Air Show. No schedule was given for the aircraft deliveries to the Egyptian flag carrier.
Safwat Musallam, chairman and CEO of EgyptAir Holding Company, signed the LoI with Fred Cromer, president of Bombardier Commercial Aircraft. Musallam said the new partnership with the aircraft manufacturer “came as a continuation of our fleet modernisation strategy. We undertook a thorough evaluation process of our fleet and realised that the CS300 would fit perfectly into our business plans and growth strategy.”
He added that the aircraft’s range would allow it to best serve domestic and regional destinations, including neighbouring Arab cities, the Middle East as well as several European destinations. He also added he was “happy to see that the partnership announced with Airbus will bring added support to the C Series programme”.
Cromer commented that Bombardier’s 20-year market outlook foresaw demand for 450 aircraft in the 60–150-seat category in the region “and this LoI confirms the need for right-sized aircraft in the Middle East. We are confident that our small single-aisle C Series is ideally suited to serve the hot temperature environments of the region and will undoubtedly provide performance and economics that will drive higher profitability.”
Engine maker Pratt & Whitney also confirmed the selection by EgyptAir of its PurePower Geared Turbofan (GTF) engines to power the CS300 aircraft. Deliveries are expected to begin in 2018, it said.
Pictured are Fred Cromer (left), president of Bombardier Commercial Aircraft and Safwat Musallam, chairman and CEO of EgyptAir Holding Company.