Story ID: GPaircanadafirmCS06282016
Air Canada Confirms C Series Order
By: Gregory Polek
Caption: Contract including options valued at $6.3 billion
Word Count: 253
Air Canada has converted its letter of intent covering 45 Bombardier CS300s to a firm order, Bombardier and the airline announced Tuesday. The contract, originally announced in February, includes options for another 30 CS300s. Bombardier values the firm order at US$3.8 billion based on list prices. The amount would increase to $6.3 billion should Air Canada exercise its options on all 30 aircraft. 

“This order is a major statement of support for Canada’s aerospace industry and will help support thousands of C Series related jobs,” said Bombardier CEO Alain Bellemare.  “It also serves as an important catalyst for renewed interest and subsequent orders."

Contract schedules call for deliveries to begin in late 2019 and extend to 2022.

“Finalizing the CS300 order is a key element to Air Canada’s strategy to build one of the world’s youngest and most fuel efficient fleets,” said Air Canada president and CEO said Calin Rovinescu. “This order also will help establish a Centre of Excellence for C Series maintenance work in Quebec. Following a rigorous evaluation of its capabilities, we're confident that the C Series aircraft's superior range, economics and seating capacity will provide a stellar passenger experience and contribute significantly to our development plans to expand our network and increase point-to-point service to Canadian and transborder markets.”

The first production Bombardier C Series will enter service with Swiss International Airlines on July 15. Swiss expects to take delivery of the airplane—a CS100—at the end of this month.