IATA: EDC provides commitments for CSeries orders

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Export Development Canada (EDC) has provided commitments for a number of Bombardier CSeries orders, says Bombardier Aerospace president Guy Hachey.

Commitments have been made for “a normal proportion” of the type’s order book compared to export credit commitments for launches of other new aircraft types, he says at the IATA Annual General Meeting in Doha. He declines to specify a number.

Porter Airlines chief executive Robert Deluce said in April 2013 that the carrier is considering “all sources” of funding – including EDC financing and bank debt – for its conditional order for up to 30 CS100 aircraft.

Lease Corporation International said in 2009 that it plans to use EDC financing for the three CS100s and 17 CS300s it has on order.

Bombardier begins discussing financing options with potential customers about a third of the way into the order process, says Hachey.

Bombardier has firm orders for 203 CSeries aircraft – not including the four flying in the flight test programme – Flightglobal’s Ascend Online database shows. It has options and commitments for another 249 aircraft.