Bombardier Seals Second C Series Win After Handing Airbus Stake

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Bombardier Inc sealed the second deal for its C Series jet since reaching a landmark settlement with Airbus SE just a few weeks in the past that can see the European planemaker take management of this system and badist revive the fortunes of the narrow-body aircraft.

EgyptAir Airlines Co. plans to purchase 12 of Bombardier’s greatest variant of the jet the CS300, and has choices for an additional 12, the service mentioned Tuesday on the Dubai Air Show. The deal is valued at $1.1 billion earlier than reductions.

The accord is a big win for Bombardier, which positive factors one other buyer for its new jet lower than a month after the corporate agreed to cede management of the C Series to Airbus in trade for the European planemaker’s advertising heft and manufacturing experience. The plane had been affected by delays and price overruns, and not too long ago was hit with 300 % tariffs within the U.S. after a commerce grievance by Boeing Co.

Bombardier Chief Executive Officer Alain Bellemare instructed badysts two weeks in the past that he anticipated gross sales of the C Series would speed up following the take care of Airbus. Its presence is “adding confidence about the long-term success of the program,” he mentioned Nov. 2.

That similar day, Montreal-based Bombardier mentioned an unidentified European buyer was planning to purchase 31 C Series plane with choices for 30 extra. Bombardier hasn’t sealed a serious buy since Delta Air Lines Inc. ordered 75 planes in April of final 12 months.

The CS300 carries a listing value of $89.5 million, though reductions of 50 % or extra are widespread within the business. The jet, the bigger of two C Series variations, can carry 130 to 160 pbadengers.

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