airBaltic and Bombardier Commercial Aircraft announced that the parties have executed a firm purchase agreement for the sale and purchase of 30 Bombardier CS300 aircraft with options for an additional 30 aircraft of the same type. This order complements the existing order of 20 CS300 aircraft and forms the backbone of the new airBaltic business plan.
“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-aircraft. With demonstrated fuel savings of more than 22 percent the aircraft plays 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,” said Martin Gauss, Chief Executive Officer of airBaltic.
Deliveries from this new order are scheduled to commence in 4Q19. Prior to this order, airBaltic had ordered 20 CS300 aircraft. Currently the airline is operating revenue service with eight CS300 aircraft, and is expected to take delivery of 12 more by 2019. Based on the list price of the CS300 aircraft, the firm order is valued at approximately US$ 2.9bn. This amount would increase to nearly US$5.9 bn should all 30 purchase rights be exercised.
