Ilyushin converts CSeries LOI to Order

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Bombardier announced that Moscow-based, national leasing company, Ilyushin Finance Co. (IFC), has signed a purchase agreement to acquire 32 CS300 aircraft and options for an additional 10 CS300 aircraft. The transaction, which follows a letter of intent signed by IFC in 2011, is subject to approval by the company’s shareholders. A signing ceremony to commemorate the agreement was held today during a visit by IFC and Russian dignitaries to Bombardier’s final assembly facility for the CSeries aircraft in Mirabel, Quebec.

Based on the list price for the CS300 aircraft, a firm order from IFC for 32 aircraft would be valued at approximately $2.56bn. Should IFC also exercise its 10 options, the contract would have a total value of approximately $3.42bn.

“The aircraft leasing world is changing rapidly,” said Alexander Rubtsov, Director General, IFC. “As older, less efficient designs present ongoing challenges to airlines – given high fuel costs and heightened environmental concerns – the CSeries aircraft offers transcontinental range, superior field and runway performance, and a superb cabin that will bring air transport into the 21st century.”  Mr. Rubtsov also noted that the order for the technologically advanced CSeries jetliners is its first large, non-Russian aircraft order, adding that the CSeries aircraft, with its capacity and performance, is ideally placed between the Russian Superjet and the MC-21 aircraft, which IFC has committed to purchase.

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5 comments on “Ilyushin converts CSeries LOI to Order
  1. Normand Hamel says:

    Addison, what would now be the number of firm orders, versus total orders of any kind?

  2. keesje says:

    IMO it was pretty clear the Superjet was using yesterdays engines from the start, including its fuel efficiency. Made this cut & paste yrs ago.

    http://i191.photobucket.com/albums/z160/keesje_pics/supersuperjet.jpg

    Then it failed to ramp up fast & reliable enough. The aircraft has/had enormous potential. I wonder what prevented achieving success so far.

    A stretch, GTF & we have a CSeries for half the price.

  3. keesje says:

    The Superjet could be an opportunity for GE to get the NG34 rolling.

    Not ideal, but after loosing BBD, Embraer and MHI, GE has to get things going, or give up its dominance build with CF34 for a long time to come.

    GE/CFM pushed out of the 70-220 passengers driver seat by Pratt. Everyone stating so even 5 yrs ago would have been laughed away by the industry. GE/CFM with their GENX technology, Leasing business and customer base would never let that happen, never.

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