Russia's Ilyushin Finance firms purchase agreement for up to 42 Bombardier CSeries aircraft

Bombardier Aerospace released that its purchase agreement with Moscow-based leasing company Ilyushin Finance Co. (IFC) has been approved by IFC’s shareholders and is now firm. The firm purchase agreement covers the acquisition of 32 CS300 aircraft and options for an additional 10 CS300 aircraft, following a letter of intent signed by IFC in 2011 and a conditional purchase agreement announced by Bombardier on February 20, 2013. Based on the list price for the CS300 aircraft, the firm order is valued at approximately $2.56bn. Should IFC also exercise its 10 options, the contract would have a total value of approximately $3.42bn US. Bombardier also disclosed Gulf Air as airline customer for 10 CSeries aircraft and options for another six.