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EgyptAir signs letter of intent for up to 24 Bombardier CS300s

14 November 2017

Egypt's flagship state carrier EgyptAir has signed a letter of intent to order 12 Bombardier CS300 passenger aircraft for $1.1 billion.

Bombardier is closing in on the second deal for its CSeries jet since reaching a landmark agreement with Airbus a few weeks ago that will see the European planemaker take control of the program to help revive the plane's fortunes.

Bombardier said it remains confident that Boeing won't be able to prove in its trade complaint that it has been damaged by the C Series since it doesn't make a plane the size of the CS100 and wasn't invited to bid on the Delta order.

The US trade department imposed tariffs of 300% on the C Series as it upheld a complaint from Boeing over subsidies the aircraft received from the Canadian and United Kingdom governments. Its presence is "adding confidence about the long-term success of the programme", he said on November 2.

"We selected the C Series aircraft because its excellent range will allow us to best serve domestic and regional destinations, including neighbouring Arab cities, the Middle East as well as European destinations", said Safwat Musallam, chairman and chief executive of the the Cairo-based carrier. The CS300, larges of two versions made by the Montreal-based company has a list price of $89.5 million before discount.

The C Series has also been ordered by Iraqi Airways, Saudi Gulf and Gulf Air. 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.

EgyptAir signs letter of intent for up to 24 Bombardier CS300s