airBaltic signs LoI for up to 20 Bombardier CSeries aircraft

airBaltic signed (10-Jul-2012) a LoI to acquire 10 Bombardier CSeries CS300 aircraft and take purchase rights on an additional 10 CS300 aircraft. A firm order contract would be worth USD764 million which could increase to USD1.57 billion if purchase rights are converted to firm orders. airBaltic CEO Martin Gauss said, "As we look to replace the older aircraft in our fleet, matching the requirements of our business plan, we reviewed the narrowbody platforms from the major airframers and determined that the all-new CS300 aircraft was the best fit." [more - original PR] [more - CAPA Analysis]