EgyptAir signs deal with bombardier to buy 24 CSeries aircraft

The Bombardier logo is seen at the Bombardier factory in Belfast Northern Ireland

The EgyptAir LOI also includes purchasing options for a further 12 CSeries that, if exercised, would increase the total value of the deal to almost $2.2 billion.

Bombardier has won a major order for its C Series aircraft from EgyptAir, worth at least $1bn.

The two agreements, which total 43 firm CSeries orders, are expected to generate momentum for the narrowbody jets and follow an October decision by Airbus SE to take a majority stake in the plane program.

Earlier this month, Bombardier also revealed it had secured orders for 31 aircraft from an unnamed European customer.

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Bombardier spokeswoman, Nathalie Siphengphet said there was clearly a strong momentum for the CSeries, and there was growing interest from airlines around the world. In October, it said it would impose an 80 percent duty on top of duties of almost 220 percent on the aircraft, a benefit for rival Boeing. Shares rose 2.3 percent to C$3.13 at 10:02 a.m.in Toronto. The CS300, larges of two versions made by the Montreal-based company has a list price of $89.5 million before discount. Swiss and Air Baltic, which began flying the CS300 in December, have reported better-than-expected fuel efficiency, which is key to the jet's appeal.

The shopping spree, following months of negotiations, marks an expansion push for Egypt's flag carrier after it weathered slumping tourist visits and a fatal crash in 2018.

Bombardier Commercial Aircraft President Fred Cromer could not say whether EgyptAir would be the first Middle East airline to operate the CSeries.

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