Aerospace firm Bombardier offers announced a package to sell up to 24 of it is CS300 aircraft to EgyptAir.
The letter of intent, signed Tuesday, supplies the Egyptian airline the draft sale of 12 CS300s with purchase rights for an additional 12.
The whole package, if exercised, would cost EgyptAir $2.2 billion. Both parties hope to finalize the agreement for the initial 12 planes by the end of the year.
Speaking in the Dubai Airshow, EgyptAir leader Safwat Musallam said he expected the deal to cement fresh business for Bombardier.
“This deal will open up a big industry for Bombardier in the Middle East. Everyone understands Egypt is the entry to the spot,” he said.
Bombardier recently sold many stake in the C-series plan to Airbus so that you can widen revenue and circumvent trade complaints from Boeing. Musallam denied that this affected the deal, but conceded that he was “happy to see the partnership declared with Airbus.”
U.S. engine-maker Pratt & Whitney said in another statement that it turned out selected to supply the engines.
Bombardier predicts Middle East-based orders will take into account around 450 airplanes in the 60-to-150 seat category over the next 20 years.