Bombardier to sell 20 C-series aircraft to Latvian flag carrier

THE CANADIAN PRESS

FARNBOROUGH — Bombardier Aerospace says Latvia-based Air Baltic Corp. has signed a letter of intent to acquire 10 CS300 aircraft and take purchase rights on a further 10 of the passenger jets.

Based on the list price of the CS300, the contract is worth approximately US$764 million and could increase to $1.57 billion US should the 10 purchase rights be converted to firm orders.

The deal was announced today at the Famborough Airshow in Britain.

Bombardier Aerospace, a subsidiary of Bombardier Inc. (TSX:BBD:B), also has a conditional order for five CS100 and 10 CS300 jetliners placed by an unidentified customer earlier this week at the air show.

“The CSeries aircraft program continues to reach new milestones, expanding into new markets with unique applications,” said Mike Arcamone, the president of Bombardier Commercial Aircraft.

Air Baltic serves 60 destinations with direct flights from its home base in Riga, Latvia.

06:08ET 10-07-12