C Series secures surprise $1.1bn jet order boost

Bombardier is closing in on the second deal for its C Series jet since reaching a landmark agreement with Airbus a few weeks ago that will see the European aircraft maker take control of the programme to help revive the plane’s fortunes.

C Series secures surprise $1.1bn jet order boost

Bombardier is closing in on the second deal for its C Series jet since reaching a landmark agreement with Airbus a few weeks ago that will see the European aircraft maker take control of the programme to help revive the plane’s fortunes.

EgyptAir Airlines plans to buy 12 of Bombardier’s CS300, the biggest variant of the narrow-body jet, and has options for a further 12, the carrier said at the Dubai Air Show. The deal is valued at $1.1bn (€943m) before discounts.

The accord is a significant win for Bombardier and its operations in Belfast where it employs 4,000 people, which gains another customer for its new jet less than a month after the company agreed to cede control of the C Series to Airbus in exchange for the European planemaker’s marketing heft, manufacturing expertise and financial muscle.

The aircraft had been plagued by delays and cost overruns, and recently was hit with 300% tariffs in the US after a trade complaint by Boeing.

Bombardier expects to turn EgyptAir’s letter of intent into a firm order by the end of 2017, commercial aircraft chief Fred Cromer told reporters from Dubai. The agreement makes good on the company’s expectations the Airbus deal.

Earlier this month, Montreal-based Bombardier said an unidentified European customer was planning to buy 31 C Series aircraft with options for 30 more.

That’s a distinct turnaround, as prior to the deal Bombardier hadn’t sealed a major purchase since Delta Air Lines ordered 75 planes in April 2016.

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

Bloomberg

more courts articles

Gary Glitter victim seeking six-figure sum in damages, court told Gary Glitter victim seeking six-figure sum in damages, court told
Man (25) in court charged with murdering his father and attempted murder of mother Man (25) in court charged with murdering his father and attempted murder of mother
Man appears in court charged with false imprisonment of woman in van Man appears in court charged with false imprisonment of woman in van

More in this section

FILE PHOTO The Competition and Consumer Protection Commission has cleared the purchase of Goodbody Stockbrokers by AIB END Goodbody Stockbrokers fined over €1.2m by Central Bank over rules breaches
Nottingham City Centre Stock Irish staff at the Body Shop wait for wages as retailer shuts stores in the Republic
Ryanair comments on Norwegian Ryanair boss O'Leary's spat with Transport Minister over Dublin Airport escalates
IE logo
Devices


UNLIMITED ACCESS TO THE IRISH EXAMINER FOR TEAMS AND ORGANISATIONS
FIND OUT MORE

The Business Hub
Newsletter

News and analysis on business, money and jobs from Munster and beyond by our expert team of business writers.

Sign up
ie logo
Puzzles Logo

Play digital puzzles like crosswords, sudoku and a variety of word games including the popular Word Wheel

Lunchtime News
Newsletter

Keep up with the stories of the day with our lunchtime news wrap.

Sign up
Cookie Policy Privacy Policy Brand Safety FAQ Help Contact Us Terms and Conditions

© Examiner Echo Group Limited