clear
Saturday November 25th, 2017 4:41AM

EgyptAir to buy 12 Bombardier aircraft for $1.1 billion

By The Associated Press

CAIRO (AP) — Egypt's flagship state carrier EgyptAir has signed a letter of intent to order 12 Bombardier CS300 passenger aircraft for $1.1 billion.

The agreement, announced and signed at a ceremony Tuesday at the Dubai Airshow, also includes purchase rights for an additional 12 aircraft, which would double the value of the sale.

The U.S. Commerce Department has imposed harsh duties on Bombardier, charging the Canadian company of selling the C Series planes in America below cost and receiving government subsidies. In October, it said it would impose an 80 percent duty on top of duties of nearly 220 percent on the aircraft, a benefit for rival Boeing.

After the decision, Bombardier sold a majority stake in its C Series jet business to European aerospace giant Airbus for no cost.

  • Associated Categories: Associated Press (AP), AP Business
© Copyright 2017 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
US producer prices rise 0.4 in October on higher food prices
US producer prices rise 0.4 percent in October, post biggest annual gain since 2012
8:39AM ( 10 minutes ago )
Global stocks mostly slide after disappointing Chinese data
Global stocks are mostly down as investors watched for tax reform developments in the U.S. and digested weak manufacturing data from China
7:46AM ( 1 hour ago )
Boeing inks $1.3B Ethiopian Airlines deal for 777 freighters
Boeing inks deal to sell four 777 freighters to Ethiopian Airlines, purchase valued at $1.3 billion
7:36AM ( 1 hour ago )
Associated Press (AP)
10 Things to Know for Today
Among 10 Things to Know: Trump Jr. messaged with WikiLeaks during 2016 campaign; Rescuers search debris after Iran-Iraq earthquake killed more than 400; Republicans continue abandoning Alabama Senate candidate Moore after new accusations
7:28AM ( 1 hour ago )
UK lawmakers battle over Brexit amid customs chaos warning
A fragile government, a legislative minefield and a jittery economy are turning up the tension as Britain tries to turn its vote to leave the European Union into a reality
7:14AM ( 1 hour ago )
Home Depot feels the wind at its back in third quarter
Home Depot topped quarterly expectations thanks in part to repairs necessitated by Harvey and Irma, a pair of hurricanes that caused widespread damage to homes
6:53AM ( 1 hour ago )
AP Business
US producer prices rise 0.4 in October on higher food prices
US producer prices rise 0.4 percent in October, post biggest annual gain since 2012
8:39AM ( 10 minutes ago )
Global stocks mostly slide after disappointing Chinese data
Global stocks are mostly down as investors watched for tax reform developments in the U.S. and digested weak manufacturing data from China
7:46AM ( 1 hour ago )
Boeing inks $1.3B Ethiopian Airlines deal for 777 freighters
Boeing inks deal to sell four 777 freighters to Ethiopian Airlines, purchase valued at $1.3 billion
7:36AM ( 1 hour ago )
10 Things to Know for Today
Among 10 Things to Know: Trump Jr. messaged with WikiLeaks during 2016 campaign; Rescuers search debris after Iran-Iraq earthquake killed more than 400; Republicans continue abandoning Alabama Senate candidate Moore after new accusations
7:28AM ( 1 hour ago )
Rescuers search debris after Iran-Iraq quake kills over 530
Rescuers are digging through the debris of buildings felled by an earthquake that killed more than 530 people in the border region of Iran and Iraq
7:27AM ( 1 hour ago )