--Gulf Air revealed as CS100 buyer
--Bahrain airline won't be taking first delivery
--Ilyushin Finance firms up CSeries purchase order
(Adds Bombardier's comments in fourth-sixth paragraphs.)
By Caroline Van Hasselt
TORONTO--Bombardier Inc. (BBD.B.T) said Tuesday that the unidentified buyer for 10 of the smaller of its all-new CSeries jetliners is Middle East carrier Gulf Air.
Montreal-based Bombardier announced the firm order almost two years ago, but didn't name the buyer, describing it at the time as a major network carrier that would be taking first delivery of CS100.
Gulf Air, the national carrier of the Kingdom of Bahrain, also has options for another six aircraft. But, the money-losing airline has whittled down its fleet to just 26 from 38 in the past year as it restructures its business amid fierce competition from other regional airlines. The airline has renegotiated its aircraft-order book, cut staff and routes.
As a result, Gulf Air will no longer be taking first delivery of the CSeries, a Bombardier spokeswoman said.
Bombardier has lined up another launch customer, but the spokeswoman said that airline has chosen to remain anonymous for strategic reasons.
When the order was announced in June 2011, it was valued at $1.1 billion if all options were converted. Bombardier didn't say Tuesday if any price concessions had been made.
The first flight of the 110-seat CS100 is expected later this month. The company in November delayed first flight and first delivery by six months. It unveiled the aircraft in March at its Mirabel facility, north of Montreal.
Bombardier and Gulf Air weren't immediately available to comment.
Separately, Bombardier said the purchase agreement with Moscow-based Ilyushin Finance Co. has been approved by the leasing company's shareholders and is now firm. The agreement is for 32 CS300 aircraft with options for 10 more, for a total value of about $3.42 billion.
As of March 31, Bombardier had 388 orders and commitments for the CSeries aircraft, which includes 145 firm orders.
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