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Ilyushin Finance Co firms order for 32 Bombardier CSeries

21-Feb-2013 7:47 AM

Bombardier Aerospace announced (20-Feb-2013) lyushin Finance Co (IFC) signed a purchase agreement to acquire 32 CS300 aircraft and options for an additional 10 CS300 aircraft. The transaction, which follows a letter of intent signed by IFC in 2011, is subject to approval by the company’s shareholders. Based on the list price for the CS300 aircraft, a firm order from IFC for 32 aircraft would be valued at approximately USD2.56 billion. Should IFC also exercise its 10 options, the contract would have a total value of approximately USD3.42 billion. This is the first large, non-Russian aircraft order for IFC. According to IFC the CSeries aircraft, with its capacity and performance, is ideally placed between the Sukhoi Superjet 100 and the Irkut MC-21 aircraft, which IFC has committed to purchase. IFC director general Alexander Rubtsov said the "aircraft leasing world is changing rapidly" and as "older, less efficient designs present ongoing challenges to airlines – given high fuel costs and heightened environmental concerns – the CSeries aircraft offers transcontinental range, superior field and runway performance, and a superb cabin that will bring air transport into the 21st century.” [more - original PR]