An EgyptAir aircraft flying in the sky. Credit: Bombardier.

EgyptAir has signed a letter of intent (LoI) with Bombardier Commercial Aircraft to purchase up to 24 single-aisle CS300 aircraft worth $2.2bn.

The deal includes 12 CS300 aircraft with purchase rights for 12 more aircraft of the same variant.

The firm order, which includes the 12 CS300 aircraft, would be valued at $1.1bn if exercised, while the optional deal to purchase the additional aircraft would increase the value of the transaction to $2.2bn.

“We selected the C Series aircraft because its excellent range will allow us to best serve domestic and regional destinations.”

EgyptAir Holding Company chairman and CEO Safwat Musallam said: “It is our pleasure to have this new partnership with Bombardier, which came as a continuation of our fleet modernisation strategy.

“We undertook a thorough evaluation process of our fleet and realised that the CS300 would fit perfectly into our business plans and growth strategy.

“We selected the C Series aircraft because its excellent range will allow us to best serve domestic and regional destinations, including neighbouring Arab cities, the Middle East, as well as several European destinations. This is in addition to the CS300 aircraft’s exceptional economics and outstanding cabin.”

Bombardier’s C Series aircraft programme is designed to cater to the 100 to 150-seat market segment.

In its recent 20-year market outlook, Bombardier has predicted a demand for 450 aircraft in the 60 to 150-seat category for the Middle East.

In May, Bombardier delivered a CS300 aircraft to Swiss International Air Lines (SWISS), which was also the launch operator of C Series aircraft.