Bombardier, a Canada-based plane manufacturer, has announced the sale of 12 CS300 aircraft to EgyptAir in a deal worth $1.1 billion.

The company had signed a letter of intent last month for the sale of 24 CS300 aircraft, which included 12 CS300 aircraft and the option to purchase an additional 12.

The deal would be worth nearly $2.2 billion if EgyptAir purchases teh additional 12 planes, Bombardier said in a statement.

"Welcoming EgyptAir to the family of C Series operators is another landmark moment for Bombardier,” said Fred Cromer, president, Bombardier Commercial Aircraft. “The aircraft is performing exceptionally well, the industry recognizes the C Series as best in class, and this order from another well-established airline is testament to its tremendous value.”

“The CS300’s unique profitability profile will allow us to open up new opportunities and fits perfectly into our growth strategy,” said Safwat Musallam, chairman and CEO, EgyptAir.” Our passengers will experience modern and best in class comfort, and we look forward to integrate this innovative and efficient aircraft to our fleet.” - TradeArabia News Service