Air Canada Confirms USD$3.8 Bln CSeries Order

June 28, 2016

Air Canada has confirmed an order to buy 45 Bombardier CSeries aircraft with an option to purchase another 30, in a deal valued at about USD$3.8 billion.

The order, first announced in February, would increase to USD$6.3 billion if the airline exercises its option to buy the 30 additional aircraft.

The companies said deliveries were scheduled to begin in late 2019 and extend to 2022.

The order was the first in 16 months for the CSeries, which has been plagued by delays and higher-than-expected costs, and is a major boost for Bombardier.

The plane maker last week signed a long-expected deal with Quebec for the Canadian province to invest in the CSeries and is also in talks with Canada's federal government over possible investment, a deal that is proving harder to pull off.

(Reuters)