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Bombardier announces agreement with EgyptAir for up to 24 CS300 aircraft

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The airline has signed a letter of intent for 12 firm orders, with an option for a further twelve.

The total order would be valued at almost $2.2 billion, Bombardier said, at current list prices.

Less than a month after Airbus agreed to rescue Bombardier's struggling C Series jet program, Bombardier has announced a second order for the narrowbody passenger plane. The deal is valued at $1.1 billion before discounts.

The EgyptAir letter of intent and a deal for up to 31 planes announced November 2 with an undisclosed customer are expected to be firmed up by the end of the year.

The CS300 is the larger version of Bombardier's C Series aircraft. In October, it said it would impose an 80 percent duty on top of duties of almost 220 percent on the aircraft, a benefit for rival Boeing. Bombardier hasn't sealed a major purchase since Delta Air Lines ordered 75 aircraft in April 2016.

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Airbus has vowed to cut the aircraft's production costs and secure thousands of new orders for the plane, which Bombardier spent more than $6 billion to develop.

Bombardier and EgyptAir said they hoped to finalize the deal before the end of 2017, the statement added.

The shopping spree, following months of negotiations, marks an expansion push for Egypt's flag carrier after it weathered slumping tourist visits and a fatal crash in 2018.

Colin Bole, Bombardier's senior vice president of commercial aircraft, said there were no particular conditions or terms that needed to be met to finalize the deals.

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