OREANDA-NEWS. July 10, 2012. Bombardier Aerospace announced today that Riga, Latvia-based Air Baltic Corp. (airBaltic) has signed a letter of intent (LOI) to acquire 10 CS300 aircraft and take purchase rights on a further 10 CS300 jetliners.

Based on the list price of the CS300 airliner, a firm-order contract with the network carrier will be valued at approximately USD 764 million, and could increase to USD 1.57 billion should the 10 purchase rights be converted to firm orders.

“As we look to replace the older aircraft in our fleet, matching the requirements of our business plan, we reviewed the narrowbody platforms from the major airframers and determined that the all-new CS300 aircraft was the best fit. With its advanced technologies, it is optimized for our market sizes and will be an excellent companion to the eight Bombardier Q400 NextGen turboprops in our fleet,” said Martin Gauss, Chief Executive Officer, airBaltic. “The superb economics of the aircraft and the delivery timeframe that is available to us are also key factors in our decision to choose Bombardier’s CS300 airliners for our network.”

“In addition, the travelling experience of our passengers will be further enhanced by the CSeries aircraft’s widebody comfort, including the five-abreast seating and wider middle seat,” added Mr. Gauss.

“The CSeries aircraft program continues to reach new milestones, expanding into new markets with unique applications. As the newest customer to join the CSeries aircraft program, airBaltic − known for being innovative − demonstrates the growing demand and need for unmatched technologies and operational flexibility,” said Mike Arcamone, President, Bombardier Commercial Aircraft. “We are thrilled that airBaltic will look to the CSeries aircraft to implement its new initiatives and integrate new levels of passenger comfort. The diversity of the CSeries aircraft customers – from national carriers such as airBaltic, major network carriers, low-fare airlines, premium airlines serving city centre airports, and leasing companies – speaks volumes about the flexibility of the aircraft to serve diverse air transport needs worldwide.”

In 2012, airBaltic was named one of the most innovative airlines in the world by airlinetrends.com