Friday, 17 November, 2017

EgyptAir Signs Deal With Bombardier

The Bombardier logo is seen at the Bombardier factory in Belfast Northern Ireland The Bombardier logo is seen at the Bombardier factory in Belfast Northern Ireland
Laurie Berry | 14 November, 2017, 19:56

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.

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

"We are respecting the customer's wishes to not disclose the identity", Cromer said from Dubai.

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

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.

S&P cuts Venezuela's sovereign debt rating to 'selective default'
Under the sanctions, no USA citizen can do business with Venezuelan individuals on the list. PDVSA, in turn, relies on credit lines from worldwide banks to finance oil production.

"It's a great template and it is something that will followed extremely closely by the other carriers in the regions and the sub regions in the area".

In Dubai, Ethiopian Airlines' chief executive said he would decide next year whether to buy CSeries or Brazil-based Embraer's E-jet series as a replacement for its Boeing's 737-7.

Earlier this month an unnamed European airline said it meant to buy at least 31 of the C-Series planes.

Airbus has vowed to cut the aircraft's production costs and secure thousands of new orders for the C Series, which Bombardier spent more than $6bn to develop.

Cromer declined to say if the second assembly line in Alabama estimated by the company to be built at a cost of more than $300 million would be affected by the maintenance of high USA duties.

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