Iraqi Airways Signs Firm Purchase Agreement with Options for up to 16 Bombardier CS300 Aircraft

TORONTO, ONTARIO--(Marketwired - Dec. 4, 2013) - Bombardier Aerospace today announced that Iraqi Airways, the national carrier of Iraq, has signed a firm purchase agreement to acquire five CS300 mainline jetliners. The agreement, which also includes options on 11 CS300 aircraft, follows a letter of intent (LOI) to purchase the aircraft that was announced by Bombardier on November 19 during the Dubai Airshow.

As previously announced, based on the list price for the CS300 aircraft, the firm order is valued at approximately $387 million US and could increase to $1.26 billion US if the 11 options are converted to firm orders.

"Following the successful utilization of our six CRJ900 NextGen aircraft over the past few years, the acquisition of the CS300 aircraft will complement our network operations and allow us to expand into new markets," said Captain Saad Al-Khafaji, Chief Executive Officer and Director General, Iraqi Airways. "The CS300 aircraft's range, fuel efficiency and comfortable, widebody-like cabin will permit us to respond to growing passenger demand and reach destinations across the Middle East, Northern Africa and Europe."

"The CS300 aircraft is ideally suited to Iraqi Airways' expanding operations, providing the right mix of performance, operational flexibility and passenger comfort to support the airline's ongoing success in its increasingly competitive markets," said Mike Arcamone, President, Bombardier Commercial Aircraft. "We are delighted to be participating in Iraq's reconstruction by delivering the best aircraft to support Iraqi Airways' growth and development."

CSeries aircraft

Designed for the growing 100- to 149-seat market, the 100 per cent new CSeries aircraft family combines advanced materials, leading-edge technology and proven methods to meet commercial airline requirements. Powered by Pratt & Whitney PurePower PW1500G engines, the CSeries aircraft family will offer a 15(i) per cent cash operating cost advantage and a 20(i) per cent fuel burn advantage. With the extra capacity seating option, the CS300 aircraft's productivity further improves, offering airlines an average of four(i) per cent additional cash operating cost advantage per seat.

The CSeries aircraft's clean-sheet design is ensuring that the aircraft will achieve greatly reduced noise and emissions, as well as superior operational flexibility, exceptional airfield performance and a range of 2,950 NM (5,463 km)(i). The CSeries aircraft will be up to 12,000 lbs. (5,443 kg)(i) lighter than other aircraft in the same seat category and will provide passengers with a best-in-class, widebody cabin environment in a single-aisle aircraft.

As of today, Bombardier has booked orders and commitments for 419 CSeries aircraft, which include firm orders for 182 CSeries airliners. Some 16 customers and lessees have joined the CSeries aircraft program.

About Bombardier

Bombardier is the world's only manufacturer of both planes and trains. Looking far ahead while delivering today, Bombardier is evolving mobility worldwide by answering the call for more efficient, sustainable and enjoyable transportation everywhere. Our vehicles, services and, most of all, our employees are what make us a global leader in transportation.

Bombardier is headquartered in Montreal, Canada. Our shares are traded on the Toronto Stock Exchange (BBD) and we are listed on the Dow Jones Sustainability World and North America Indexes. In the fiscal year ended December 31, 2012, we posted revenues of $16.8 billion. News and information are available at bombardier.com or follow us on Twitter @Bombardier

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