Bombardier Commercial Aircraft and Air Baltic Corporation AS (airBaltic) have inked a purchase agreement for the sale and acquisition of 30 CS300 aircraft by the airline. Additionally, as per the agreement, airBaltic will have the option to acquire an additional 30 aircraft of the same variant.
The firm order of the deal was valued at approximately $2.9bn, and if airBaltic should later option the additional aircraft, the amount could potentially reach an estimated $5.9bn.
Fred Cromer, president, Bombardier Commercial Aircraft, said: "As the C Series aircraft program continues to gain market acceptance, this significant reorder from our CS300 launch operator is a strong testimony to the aircraft's exceptional in-service performance.”
He added: "Furthermore, we are proud that the CS300 has helped airBaltic maintain its position as one of the world's most punctual airlines. The C Series aircraft is at the forefront of the small single-aisle market, and airBaltic played a key role in demonstrating its value.
“In the last 18 months, we have witnessed airBaltic's growing leadership in the market, and we wish the airline further success with its expanded CS300 fleet."
With the agreement concluded, Air Baltic Corporation AS has become the largest European C Series customer, and is also reportedly the second largest customer worldwide with 50 aircraft on firm order.
Commenting on the deal, Martin Gauss, CEO, airBaltic, shared: "As an early adopter of the C Series, we took a forward-looking decision on advanced technology to support our turnaround plan leading to sustainable profitability, and today we are benefiting from the most fuel-efficient small single-aisle aircraft.
“With demonstrated fuel savings of more than 22%, the CS300 aircraft plays a vital role in maintaining our operating cost at a low level. In 2017, we experienced outstanding growth and showed the world the unique capabilities and comfort of this innovative aircraft. We successfully executed our fleet modernization strategy, and are excited to further grow our fleet up to 80 CS300 aircraft while phasing out our other aircraft types in the next three years.”
airBaltic is scheduled to receive the first aircraft related to this order by the fourth quarter of 2019. To date, the airline has purchased 20 CS300 aircraft.