The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Riga / AFP
Latvia’s airBaltic, which will be the first airline to operate Bombardier’s CS300 plane commercially, said it had increased its order with the Canadian manufacturer from 13 to 20 aircraft.
“This brings the total order for 20 planes to a book price of around $1.5 billion” (1.3 billion euros), airBaltic spokesman Janis Vanags said.
The Latvian flag carrier, which was established in 1995 and is 99 percent owned by the Baltic eurozone member, said the extra seven planes had a list price of $506 million.
Chief executive officer Martin Gauss said the purchase would “help stimulate the economies of Latvia, Estonia and Lithuania,” from which airBaltic operates flights to 60 destinations.
Bombardier has said it will deliver the first CS300 planes, which can hold 120 to 150 seats, to airBaltic in the second half of 2016.
airBaltic, is the Latvian flag carrier airline and a low-cost carrier, with its head office on the grounds of Riga International Airport in Marupe municipality, near the capital, Riga. Its main hub is at Riga International Airport. It has been state owned since 30 November 2011. Following the closure of Air Lituanica and Estonian Air respectively in June and November 2015, it is alongside Nordica, one of two flag carriers in the Baltic countries.