EGYPTAIR SIGNED deals for three new types at the show as part of a fleet recapitalisation programme. The standout agreement was a letter of intent (LOI) with Bombardier for 24 CS300s, while it also teed up lease deals with AerCap for six Boeing 787-9 Dreamliners and 15 Airbus A320neos. The Bombardier LOI, which is expected to be firmed by January, consists of 12 aircraft and a dozen purchase rights. If all the purchase rights are exercised, the deal is valued at nearly $2.2bn. Safwat Musallam, Chairman and CEO of EgyptAir Holding Company, said: “We undertook a thorough evaluation process of our fleet and realised that the CS300 would fit perfectly into our business plans and growth strategy.”
Musallam highlighted the jet’s range as a key factor in the airline’s decision saying it enabled the carrier to serve domestic and regional destinations as well as the Middle East and Europe. “We look forward to expanding our network with the CS300 and we are happy to see that the partnership announced with Airbus will bring added support to the C Series programme”, he added. Fred Cromer, President, Bombardier Commercial Aircraft, said: “We are confident that our small single-aisle C Series is ideally suited to serve the hot temperature environments of the region and will undoubtedly provide performance and economics that will drive higher profitability.”
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