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Bombardier clinches $1bn order from EgyptAir

15 November, 2017, 01:24 | Author: Melinda Barton
  • Airbus is taking a majority stake in the C Series passenger plane

Airbus agreed in October to take a majority stake in Bombardier's CSeries jetliner program, and has said any CSeries jets intended for the USA market would be built at its production facility in Alabama, potentially allowing the planes to avoid punitive duties.

Star Alliance member EgyptAir has signed a letter of intent covering a firm order for 12 CS300s plus purchase rights for another 12 of the 130-seat aircraft. The deal is valued at $1.1 billion before discounts.

The U.S. Commerce Department has imposed harsh duties on Bombardier, charging the Canadian company of selling the C Series planes in America below cost and receiving government subsidies. The agreement makes good on the company's expectations that the Airbus deal will bolster confidence in the program and accelerate sales.

In Dubai, Ethiopian Airlines' chief executive said he would decide next year whether to buy CSeries or Brazil-based Embraer's E-jet series as a replacement for its Boeing's 737-7. Bombardier hasn't sealed a major purchase since Delta Air Lines ordered 75 aircraft in April 2016.

Bombardier has picked up some new orders for its C Series jets, which some analysts see as a favorable response to a plan to build them in Alabama.

The CS300 carries a list price of $89.5 million, although discounts of 50 percent or more are common in the industry.

EgyptAir is separately expected to unveil a deal for at least six Boeing's 787 Dreamliners, the first passenger jets made from strands of carbon fibre, said people familiar with the discussions.



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