EgyptAir, Bombardier near $1.1bn jet deal

Cairo – Mubasher: EgyptAir is looking to expand its fleet for long-range and short-haul aircraft, sources have said.

The government-owned Egyptian airline is looking to put in a $1.1 billion order for Canada-based Bombardier Inc’s C Series jets, informed sources told Bloomberg late Monday.

“The Cairo-based company is expected to announce a firm order for 12 CS300 jets as early as Tuesday at the Dubai Air Show, said the people, who asked not to be named because the talks are private. The airline is mulling acquiring options to buy another dozen of the single-aisle planes,” Bloomberg added, citing the sources.

The Egyptian carrier will likely announce a deal for “at least six of Boeing Co.’s 787 Dreamliners”, the news agency added.

The 787 Dreamliners are the first passenger jets made from strands of carbon fibre. Airbus SE has also been looking to secure a commitment for its A320neo single-aisle jetliners, the sources added.

EgyptAir’s deal comes after months of talks and will mark an expansion of the airline after its suffered a sharp drop in tourists last year and a fatal crash.

In October, Egypt’s minister for civil aviation Sherif Fathy revealed that the Egyptian government was expected to pay around $3.3 billion of the cost to acquire 45 planes.

EgyptAir’s deal follows a series of similar deals conducted by airlines from the UAE, with Dubai-based Emirates Airline and US-based Boeing signing a ($15.1 billion deal earlier this week for 40 787-10-Dreamliner aircraft.

Similarly, Flydubai said it was in contact with Airbus and Boeing for a potential new order of up to 175 passenger jets.

Mubasher Contribution Time: 14-Nov-2017 12:17 (GMT)
Mubasher Last Update Time: 14-Nov-2017 12:17 (GMT)