Bombardier inks $1.1 billion deal with Egypt Air for C-Series jets

14 November, 2017, 19:58 | Author: Leticia Walters
  • Airbus is taking a majority stake in the C Series passenger plane

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.

It is the first order for the C Series since the surprise announcement in October that Airbus was taking a majority stake in the programme.

‍Bombardier says ‍based on the list price of a CS300 airliner, a firm-order contract would be valued at approximately $1.4-billion.

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

He added that the new partnership with Bombardier emphasized the future vision for the Middle East and Africa, and will fulfill the market demands.

Bombardier is engaged in a trade dispute with Boeing, which complained that the CSeries had been subsidized and sold below cost in the United States. The aircraft had been plagued by delays and cost overruns, and recently was hit with 300 percent tariffs in the US after a trade complaint by Boeing. The jet, the larger of two C Series versions, can carry 130 to 160 passengers. The CSeries was two-and-a-half years late and more than $2 billion over budget when it entered service at Deutsche Lufthansa AG's Swiss unit in July 2016. Swiss and Air Baltic, which began flying the CS300 in December, have reported better-than-expected fuel efficiency, which is key to the jet's appeal.

Colin Bole, Bombardier's senior vice president of commercial aircraft, said there were no particular conditions or terms that needed to be met to finalize the deals.

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