Published: Wed, November 15, 2017
Markets | By Rosalie Gross

Bombardier gets second customer for its C series jet in a month

Bombardier gets second customer for its C series jet in a month

The accord is a significant win for Bombardier, which gains another customer for its new jet less than a month after the company agreed to cede control of the CSeries to Airbus in exchange for the European planemaker's marketing heft, manufacturing expertise and financial muscle.

The aircraft fits into EgyptAir's long-term growth strategy, providing a new larger aircraft type for regional subsidiary EgyptAir Express, which operates a fleet of 12 Embraer 170s.

As part of the Airbus venture, Bombardier has said it would invest $300 million to set up an Alabama assembly line for CSeries purchased by American carriers.

On Nov. 2, as Bombardier issued its third quarter financial report, which claimed that a European customer, which it did not name, had signed a Letter of Intent for the purchase of up to 61 C Series aircraft, including 31 "firm".

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 two deals.

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The Bombardier logo is seen at the Bombardier factory in Belfast, Northern Ireland September 26, 2017.

Canadian plane-and-train-maker Bombardier Inc is in advanced talks with EgyptAir over a potential $1.1 billion order for CSeries jets, Bloomberg reported, citing people familiar with the matter.

Bombardier's deal with EgyptAir follows signed agreements with Iraqi Airways, Bahrain's Gulf Air, among other Middle East regional carriers.

Bombardier has faced a series of problems over the plane, most recently a trade dispute in the USA that imposed a 300% import tariff.

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