EgyptAir to buy 12 Bombardier aircraft for $1.1 billion

CAIRO — Egypt's flagship state carrier EgyptAir has signed a letter of intent to order 12 Bombardier CS300 passenger aircraft for $1.1 billion.

The agreement, announced and signed at a ceremony Tuesday at the Dubai Airshow, also includes purchase rights for an additional 12 aircraft, which would double the value of the sale.

The U.S. Commerce Department has imposed harsh duties on Bombardier, charging the Canadian company of selling the C Series planes in America below cost and receiving government subsidies. In October, it said it would impose an 80 percent duty on top of duties of nearly 220 percent on the aircraft, a benefit for rival Boeing.

After the decision, Bombardier sold a majority stake in its C Series jet business to European aerospace giant Airbus for no cost.

Related News

Scientists discover hidden chamber in Egypt's...

Nov 2, 2017

Scientists say they have found a previously undiscovered hidden chamber in Egypt's Great Pyramid of...

Archaeologists discover 2 ancient tombs in...

Dec 9, 2017

Egypt's Antiquities Ministry says archaeologists have uncovered two ancient tombs in the southern...

Iran's working class, facing dim prospects, fuels...

Jan 6, 2018

Iran's protests over the past week have been centered in dozens of long-neglected cities and towns,...

Egypt places colossus of Ramses II in atrium of...

Jan 25, 2018

Egypt places giant statue of Ramses II in entrance hall of antiquities museum under construction...

Egypt thanks Eni for gas field efforts despite...

Jan 31, 2018

Egypt's president has again accused unknown parties of being behind the 2016 murder of an Italian...

Egypt says 4,400-year-old tomb discovered outside...

Feb 3, 2018

Archaeologists in Egypt say they have discovered 4,400-year-old tomb near the pyramids outside Cairo

Sign up now!