Back to the complete issue
Tuesday, 14 November 2017

EgyptAir expected to announce today a USD 1.1 bn order for Bombardier C-Series planes

EgyptAir is expected to announce today a USD 1.1 bn order for Bombardier C-Seriesjets, Boeing 787s: EgyptAir has reportedly been in advanced talks with Bombardier to buy 12 CS300 jets in a transaction worth c. USD 1.1 bn, people familiar with the matter tell Bloomberg. The order is expected to be announced today at the Dubai Air Show. The airline is also reportedly mulling other options to buy another dozen of the single-aisle planes, and EgyptAir is also expected to unveil an order for at least six of Boeing’s 787 carbon fiber Dreamliners, said people familiar with the discussions. Airbus SE has also been in talks to secure a commitment for its A320neo single-aisle jetliners, the people said. The purchases come as part of an expansion of EgyptAir’s fleet as tourism shows signs of recovery and the airline weathering the crash of EgyptAir flight MS 804 from Paris to Cairo. Civil Aviation Minister Sherif Fathy said last month that the government expected to pay about USD 3.3 bn of the costs the national flag carrier will incur in acquiring some 45 planes.

The EgyptAir contract would be a big win for Bombardier, which is locked in trade dispute with Boeing in the United States that saw the temporary imposition of a 220% duty on C-series jets sold into Amreeka.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594). Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2016 Enterprise Ventures LLC.