CS300 IFC

Russian leasing firm Ilyushin Finance’s (IFC) shareholders have approved the purchase agreement for 42 Bombardier CSeries aircraft, a move that converts the agreement to a firm order.

The firm purchase agreement includes the acquisition of 32 CS300 aircraft, with an option to purchase a further ten.

IFC signed a letter of intent in 2011 and a conditional purchase agreement was announced by Bombardier on 20 February this year.

The firm order is valued at approximately $2.56bn, and if the leasing firm exercises its ten options, the deal will have a total value of about $3.42bn.

IFC director general Alexander Rubtsov said that operators in the Commonwealth of Independent States (CIS), as well as those based in other parts of the world, have expressed interest in acquiring the CSeries aircraft as older and less efficient aircraft designs are presenting ongoing challenges due to high fuel costs and heightened environmental awareness.

With its capacity and performance, the CSeries aircraft is well placed between the smaller Russian Superjet and the larger capacity Russian MC-21 aircraft, Rubtsov added.

IFC stated that the aircraft with extra capacity seating option would be available for international operators interested in higher density configurations.

"With its capacity and performance, the CSeries aircraft is well placed between the smaller Russian Superjet and the larger capacity Russian MC-21 aircraft."

Bombardier Commercial Aircraft president Mike Arcamone said: "IFC’s order confirms that the CSeries aircraft is ideal for a step-change in air travel throughout the CIS and elsewhere in the world."

Designed to seat 100 to 149 passengers and powered by Pratt & Whitney PurePower PW1500G engines, Bombardier claims that the CSeries aircraft family will offer a 15% cash operating cost advantage and a 20% fuel burn decrease.

In Russia and the CIS, currently 95 CRJ regional jets and Dash 8/Q-Series aircraft are in service or on order.

Bombardier is also exploring opportunities to sell its Q400 NextGen turboprop aircraft in Russia and the CIS following the aircraft type approval by the Interstate Aviation Committee (IAC) in in June 2012.

Meanwhile, the Canadian firm has announced Gulf Air, the national carrier of Bahrain, as the undisclosed airline that placed firm order for 10 CSeries jetliners, with an option for an additional six in June 2011.


Image: Ilyushin Finance’s firm purchase agreement includes the acquisition of 32 CS300 aircraft, with an option to purchase a further ten. Photo: courtesy of Bombardier.

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