{"id":637411,"date":"2017-11-15T04:14:04","date_gmt":"2017-11-15T04:14:04","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/15\/egyptair-bombardier-sign-letter-of-intent-for-usd-1-1-bn-aircraft-purchase\/"},"modified":"2017-11-15T04:14:04","modified_gmt":"2017-11-15T04:14:04","slug":"egyptair-bombardier-sign-letter-of-intent-for-usd-1-1-bn-aircraft-purchase","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/15\/egyptair-bombardier-sign-letter-of-intent-for-usd-1-1-bn-aircraft-purchase\/","title":{"rendered":"EgyptAir, Bombardier sign letter of intent for USD 1.1 bn aircraft purchase"},"content":{"rendered":"

EgyptAir, Bombardier sign letter of intent for USD 1.1 bn aircraft purchase:<\/strong> EgyptAir Holding Company signed yesterday a letter of intent with Canada\u2019s Bombardier to purchase up to 24 C-Series planes for USD 1.1 bn, the Canadian company said in a statement<\/a>. The agreement will see Egypt\u2019s national flagship carrier purchase at least 12 CS300 airliners, with an option to purchase another 12 planes, which would bring the total value of the agreement to USD 2.2 bn. \u201cWe undertook a thorough evaluation process of our fleet and realized that the CS300 would fit perfectly into our business plans and growth strategy,\u201d EgyptAir Holding Company Chairman and CEO Safwat Musallam said at the signing ceremony. As we anticipated yesterday<\/a>, the two companies signed the agreement at the Dubai Air Show.<\/p>\n

The agreement is \u201ca significant win for Bombardier\u201d<\/strong> that comes less than one month after Europe\u2019s Airbus took control of the C Series \u201cin exchange for the European planemaker\u2019s marketing heft, manufacturing expertise and financial muscle,\u201d Bloomberg says<\/a>. Bombardier\u2019s decision to sell a majority stake in the business came after the US Commerce Department \u201cimposed harsh duties on Bombardier, charging the Canadian company of selling the C Series planes in America below cost and receiving government subsidies,\u201d the Associated Press notes<\/a>. However, Musallam maintained that Airbus\u2019 acquisition of the line \u201chad not been the incentive for his airline to buy the aircraft,\u201d according to the Financial Times<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

EgyptAir, Bombardier sign letter of intent for USD 1.1 bn aircraft purchase: EgyptAir Holding Company signed yesterday a letter of intent with Canada\u2019s Bombardier to purchase up to 24 C-Series planes for USD 1.1 bn, the Canadian company said in a statement. The agreement will see Egypt\u2019s national flagship carrier purchase at least 12 CS300 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-637411","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"915d4d71-297f-4878-8e00-84dc2812434a","order":"0","is_powered_by":true,"section_story_id":"93632b79-ea97-4d47-bf47-9c21be93b69a","story_type":"1","photo_url":"","photo_position":"above","related_issue":[637395],"teaser":"","voice_url":""},"yoast_head":"\nEgyptAir, Bombardier sign letter of intent for USD 1.1 bn aircraft purchase - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2017\/11\/15\/egyptair-bombardier-sign-letter-of-intent-for-usd-1-1-bn-aircraft-purchase\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EgyptAir, Bombardier sign letter of intent for USD 1.1 bn aircraft purchase\" \/>\n<meta property=\"og:description\" content=\"EgyptAir, Bombardier sign letter of intent for USD 1.1 bn aircraft purchase: EgyptAir Holding Company signed yesterday a letter of intent with Canada\u2019s Bombardier to purchase up to 24 C-Series planes for USD 1.1 bn, the Canadian company said in a statement. 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