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giftedviz.com November 21, 2017


EgyptAir Signs Deal With Bombardier

15 November 2017, 12:56 | Austin Hogan

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Bloomberg

C-Series wings are made at Bombardier's Belfast operation, providing employment for about 1,000 people.

The agreement, announced and signed at a ceremony Tuesday at the Dubai Airshow, also includes purchase rights for an additional 12 aircraft, which would double the value of the sale.

No Middle East customer has said when it would take delivery of CSeries jets.

EgyptAir intends to buy up to 24 of Bombardier's C-Series planes, the aerospace firm has said.

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Bombardier is in the process of axing 280 jobs at its factories in the North, and the group is still fighting a ruling from the US Commerce Department that could see import duties of 300 per cent imposed on every CSeries aircraft sold in the US. A U.S. trade commission will decide in early 2018 on whether to impose duties of almost 300 percent on the planes as urged by the U.S. Commerce Department.

The CS300 carries a list price of $89.5 million, although discounts of 50 percent or more are common in the industry. The C Series was two-and-a-half years late and more than $2bn over budget when it entered service at Deutsche Lufthansa's Swiss International unit in July 2016. Swiss and Air Baltic Corp., which began flying the CS300 in December, have reported better-than-expected fuel efficiency, which is key to the jet's appeal.

Bombardier and EgyptAir said they hoped to finalize the deal before the end of 2017, the statement added. Egypt civil aviation minister Sherif Fathy said in October that the government expected to pay about $3.3bn of the cost to acquire 45 aircraft.



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