Bombardier, Air Canada finalize purchase agreement for 45 CS300 aircraft

Bombardier Commercial Aircraft (TSC: BBD) and Air Canada have finalized a firm purchase agreement consistent with the letter of intent (LOI) announced in February 2016, which includes a firm order for 45 CS300 aircraft and options for an additional 30 CS300 aircraft, the companies said.

Deliveries are scheduled to begin in late 2019 and extend to 2022. At list price, the firm order for 45 CS300 aircraft is valued at approximately USD3.8 billion. This amount would increase to USD6.3 billion should Air Canada exercise all 30 option aircraft.

The C Series family of aircraft, representing the fusion of performance and technology, is a new design that offers operators up to USD13 million extra value per aircraft.

Bombardier is a manufacturer of both planes and trains. Bombardier is headquartered in Montreal, Canada. In the fiscal year ended December 31, 2015, the company posted revenues of USD18.2 billion.

Air Canada is a large Canadian domestic and international airline serving more than 200 airports on six continents. The airline served more than 41 million customers in 2015. Air Canada provides scheduled passenger service directly to 64 airports in Canada, 55 in the United States and 87 in Europe, the Middle East, Africa, Asia, Australia, the Caribbean, Mexico, Central America and South America.