EgyptAir signs deal with bombardier to buy 24 CSeries aircraft

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

After the decision, Bombardier sold a majority stake in its C Series jet business to European aerospace giant Airbus for no cost.

EgyptAir's letter of intent for 12 firm Bombardier CS300s jets announced on Tuesday is valued at $1.1 billion, according to a Bombardier statement.

Bombardier has faced a series of problems over the plane, most recently a trade dispute in the U.S. that imposed a 300% import tariff. 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. That's a distinct turnaround, as prior to the deal Bombardier hadn't sealed a major purchase since Delta Air Lines Inc. ordered 75 planes in April 2016. The jet, the larger of two C Series versions, can carry 130 to 160 passengers.

The shopping spree, following months of negotiations, marks an expansion push for Egypt's flag carrier after it weathered slumping tourist visits and a fatal crash in 2018.

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