On November 14, EgyptAir has signed a letter of intent (LOI) for up to 24 Bombardier CS300s at the Dubai Airshow.
The deal between the two companies envisages twelve of the aircraft to become a firm order while the remaining twelve are purchase rights. The firm order contract is valued at $1.1 billion at current list price and the event EgyptAir decides to go with the other 12 planes it will double.
A special press conference was held at Dubai Airshow to mark signing of the LOI by Safwat Musallam, Chairman and CEO of EgyptAir Holding Company and Fred Cromer, President, Bombardier Commercial Aircraf, which was attended by His Excellency Minister of Civil Aviation of Egypt Mr. Sherif Fathi.
“It is our pleasure to have this new partnership with Bombardier, which came as a continuation of our fleet modernization strategy. We undertook a thorough evaluation process of our fleet and realized that the CS300 would fit perfectly into our business plans and growth strategy,” said Safwat Musallam.
“We selected the C Series aircraft because its excellent range will allow us to best serve domestic and regional destinations, including neighboring Arab cities, the Middle East as well as several European destinations. This is in addition to the CS300 aircraft’s exceptional economics and outstanding cabin. We look forward to expanding our network with the CS300 and we are happy to see that the partnership announced with Airbus will bring added support to the C Series program.”
“We’re thrilled that EgyptAir selected the CS300 aircraft to renew its fleet,” said Fred Cromer. “Bombardier’s 20-year market outlook foresees demand for 450 airplanes in the 60- to 150-seat category for 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.”