Thursday, October 30, 2014

Bombardier unveils a number of C Series orders as airshow gets underway

MONTREAL — Bombardier Aerospace has signed a number of agreements for its new CSeries aircraft, which include letters of intent for more than 40 jets from British and Chinese companies.
The announcements come as the Farnborough International Airshow got underway in Britain on Monday.

Bombardier (TSX:BBD.B) said Chinese company Zhejiang Loong Airlines Co. has signed a letter of intent for 20 CS100 airliners that would be worth US$1.28 billion if all the orders were exercised.
Before the airshow began, Bombardier announced on Saturday that U.K-based Falko Regional Aircraft Ltd. signed letters of intent for up to 24 C S100 jets.
Another wave of orders were announced with other carriers on Monday, including Petra Airlines Ltd., based in Jordan. The company signed a letter of intent to buy as many as two CS100 and two CS300 airliners, with the full value of the four aircraft worth $298.4 million at listed prices.
Bombardier has also received a firm order for two CS300 jetliners from Falcon Aviation Services LLC, based in Abu Dhabi worth $153.3 million. It says one aircraft is a conversion of a letter of intent while the other was an option previously announced in February.
While the CSeries isn’t expected to make an appearance at the Farnborough Air Show, the jets are considered an important shift into the market for smaller commercial airliners that are more fuel efficient.
However, the launch has been hindered by costly delays that pushed back deliveries as the manufacturer spent more time on testing and preparation.
Bombardier, Canada’s largest aerospace company and one of the world’s top producers of aircraft for commercial airlines and the business sector.

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