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Friday, January 17, 2014

SaudiGulf to Invest $2B in 26 Bombardier CSeries

Newly launched Saudi Arabian national carrier SaudiGulf Airlines will acquire up to 26 Bombardier CSeries jets, the Canadian airframe manufacturer said. 
The acquisition will occur through a purchase agreement signed by Al Qahtani Aviation Co., which signed a firm order for 16 CS300s, with options for 10 additional CS300s, a $1.99 billion order if all options are exercised. 
“This is an exciting time for the aviation industry in the Arab states and neighboring regions, particularly when you consider that more than 54 million passengers moved through Saudi Arabia’s 27 airports last year alone,” said Sheikh Tariq Al Qahtani, chairman of SaudiGulf Airlines. 
Al Qahtani said the CSeries was selected based on its "clean-sheet design, modern technologies and competitive costs." 

Bombardier recently delayed the entry into service of its CSeries family from September 2014 to the second half of 2015 to allow for a more extensive flight-testing program. 

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