EgyptAir signs $1.1 bln preliminary deal for 12 Bombardier CSeries jets

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At the Dubai Airshow on Tuesday, EgyptAir signed a letter of intent for 12 firm and 12 optional C Series CS300 aircraft.

Last month, Airbus agreed to take a majority stake in the C-Series project.

"We anticipate both of them by year end", Commercial Aircraft President Fred Cromer told reporters.

MONTREAL-Bombardier Inc. said its deal with Airbus has yet to ignite new sales discussions, but existing efforts have yielded results as the manufacturer announced a potential order with Africa's largest airline.

The deal includes 12 additional aircraft with purchase rights. The deal is valued at $1.1 billion based on list prices.

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Permanent council members Russian Federation and China boycotted the meeting, as did non-permanent members Bolivia and Egypt.

Bombardier said, earlier this month, that it received a letter of intent from an unnamed European customer for 31 firm CSeries orders.

"We are respecting the customer's wishes to not disclose the identity", Cromer said from Dubai.

"It's a great template and it is something that will followed extremely closely by the other carriers in the regions and the sub regions in the area".

A firm-order contract would be valued at around $1.1 billion and is EgyptAir buys all 24 planes the contract value would increase to almost $2.2 billion. The aircraft had been plagued by delays and cost overruns, and recently was hit with potentially crushing tariffs in the USA after a trade complaint by Boeing.

A USA trade commission will decide in early 2018 on whether to impose duties of almost 300 percent on the CSeries, after Boeing complained the planes had been subsidised and sold below cost in the United States.

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