Bombardier Commercial Aircraft and Air Baltic Corporation have jointly confirmed the Latvian low-cost carrier’s firm order for 30 CS300 aircraft, with option and purchase rights for a further 30 of the same type of jet. Based on list prices, the firm order stands at a value of US$2.9 billion, rising to US$5.9 billion with the exercising of all options and purchase rights.
This takes air Baltic’s firm orders for the C Series jet to 50, making it Europe’s largest customer for the jet, and the second-largest worldwide. The acquisition of the C Series planes is connected to the carrier expanding operations from all three Baltic countries of Latvia, Estonia and Lithuania under its Destination 2025 expansion plan.
Commenting on the deal, Martin Gauss, Chief Executive Officer, airBaltic said: “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-aisle aircraft. With demonstrated fuel savings of more than 22 percent, the CS300 aircraft plays a 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.”
According to Uldis Augulis, Minister of Transport, Republic of Latvia: “2017 was the most successful year in the history of airBaltic during which the company achieved exceptional operational and financial results. This serves as solid proof of the success of the airline’s business strategy and operating model. The new order is the largest investment in Latvia’s history and plays an important role in the development of the air infrastructure of the Baltic region with wide-ranging effects on exports, economy and jobs.”
Deliveries pertaining to this new order are scheduled to commence in the fourth quarter of 2019.
The airBaltic fleet consists of 31 aircraft – 8 Bombardier CS300, 11 Boeing 737 and 12 Bombardier Q400 aircraft – with the carrier connecting the Baltic region with 70 destinations in Europe, the Middle East, and the CIS.
