A CS300 aircraft in airBaltic livery. Credit: © Bombardier.

Latvian airline airBaltic has executed a firm purchase agreement to buy 30 CS30 aircraft for around $2.9bn from Bombardier Commercial Aircraft.

The order includes options and purchase rights for an additional 30 CS300 aircraft. If these are exercised, the value of the deal will increase to around $5.9bn.

The newly placed order has made airBaltic the largest European C Series customer and the second largest customer of the same aircraft type globally.

Bombardier is expected to begin delivery of the new aircraft by the fourth quarter of next year.

“We successfully executed our fleet modernisation strategy, and are excited to further grow our fleet up to 80 CS300 aircraft.”

Once delivered, the planes will help airBaltic achieve its Destination 2025 business strategy of expanding its routes in Baltic countries, including Latvia, Estonia and Lithuania.

airBaltic CEO Martin Gauss said: “As an early adopter of the C Series, we took a forward-looking decision on advanced technology to support our turnaround plan leading to sustainable profitability, and today we are benefiting from the most fuel-efficient small single-aisle aircraft.

“In 2017, we experienced outstanding growth and showed the world the unique capabilities and comfort of this innovative aircraft. We successfully executed our fleet modernisation strategy, and are excited to further grow our fleet up to 80 CS300 aircraft while phasing out our other aircraft types in the next three years.”

airBaltic, which was the launch operator of CS300 aircraft, has previously ordered 20 aircraft of the same type.

The airline is currently operating eight aircraft and expects to receive 12 more by next year.