Finance

Egypt to buy 4 Falcon 7X from Dassault for $337M

Thursday, 18 August 2016 09:30

According to French website “La Tribune”, Dassault Aviation signed a contract to sell four Falcon 7X to Egypt. This will help the country boost its fleet of governmental aircrafts which is currently mainly composed of American planes.

The contract is valued at around €300 million ($337.8 million). However, a tranche was paid in advance prior to deal closure.

The order is for Dassault Aviation its second most important deal with Egypt, in the past years. Indeed, in February 2015, Cairo bought from the group, 24 Rafale multirole fighter planes for €5.2bn ($5.8bn).

Also, considering the actual grim environment in the commercial planes market, the new order is a golden egg for Dassault Aviation. “Forecast for 2016 shows a certain weakness in commercial aviation,” CEO of Dassault Aviation, Eric Trappier said on July 22, 2016, while releasing half-year results for his firm.

This contrasts with commercial aviation which is supported by the high growth of flying passengers, which profits Airbus or Boeing.

The French plane manufacturer which expects a lower turnover this year intends to accelerate its transformation, namely in the digital area, to cut costs and boost competitiveness.

On the same topic
• Equatorial Guinea’s economy will contract by 3.1% in 2025 after a modest 0.9% growth in 2024.• Afreximbank will raise $4.5 billion to fund the...
Legal appeals and calls for stability following leadership shake-up delay the Group’s listing on the Central African stock exchange. Highlights ●...
Cenntro has signed a deal with Moroccan firm Electricove to build an EV assembly plant. The factory will assemble models like the Teemak and LS450...
• Government to issue ₦80 billion in bonds through two tranches• Highest yield: 19.30% on four-year notes due April 2029• Bonds tradable, tax-exempt for...
Most Read
01

The fintech leaders primarily emerge from Nigeria, Egypt, Kenya, and South Africa, nations recognize...

10 African Fintech Unicorns and Upstarts Make World’s Top 300
02

By linking ECOWAS countries, the project enhances regional digital infrastructure, which is crucial ...

Liberia, ECOWAS & World Bank collaborate on second West Africa submarine cable plan
03

The acquisition signals rising confidence in Africa’s digital infrastructure as a viable, long-term ...

Kenyan Mawingu Networks to Sell 35% Stake to South Africa’s Pembani Remgro Fund
04

As digital technologies reshape Africa's job market, digital skills are becoming crucial for youth i...

Africa Faces 'Critical' Digital Skills Gap as Youth Population Booms, UN Warns
05

- Micro, small, and medium enterprises received over half of business loans in WAEMU in 2024 - Bank ...

WAEMU: SMEs Secured 52% of Business Loans in 2024, Up From 49% in 2023 
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.