Finance

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

Thursday, 18 August 2016 09:30

(Ecofin Agency) - 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.



 
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