Latvia's airBaltic to purchase 60 more Bombardier CS300s

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According to catalog prices the value of the first 150 planes would be an estimated 2.48 billion euros, and the price of the transaction would increase to 5.05 billion euros if airBaltic decides to buy 150 more CS150s. One plane would thus cost around 84 million euros.

The company plans to finance the deal with its own money and also to take a loan.

The Latvian carrier already has eight Bombardier CS150 airliners in its fleet. They have been delivered as part of an earlier deal in which airBaltic has ordered 20 planes of this model.

We have successfully started the modernization of our fleet and are glad to increase our fleet of CS150s to up to 150 planes, which in the following years will replace our aircraft of other types, said Gauss.

File photo taken on July 12, 2017 shows a Bombardier CS150 aircraft of Latvia's national airline company airBaltic at Riga International airport, Riga, Latvia. Latvia's national carrier airBaltic is going to order up to 150 more Bombardier CS150 airliners for its fleet in a deal worth more than 5 billion euros (5.81 billion U.S. dollars), company CEO Martin Gauss announced on Monday. (Xinhua/Janis)

Gauss noted that the operating costs of CS150 aircraft are low as the company saves up more than 22 percent of fuel by flying the Canadian-made planes.

RIGA, May 28 (Xinhua) -- Latvia's national carrier airBaltic is going to order up to 150 more Bombardier CS150 airliners for its fleet in a deal worth more than 5 billion euros (5.81 billion U.S. dollars), company CEO Martin Gauss announced on Monday.

The Latvian government holds 150.05 percent stake in airBaltic while around 20 percent belongs to Danish investor Lars Thuesen.

The agreement was concluded between the Latvian carrier and Canadian manufacturer Bombardier Commercial Aircraft to order 150 new Bombardier CS150s with an option to increase the order by 150 more such planes.

airBaltic expects Bombardier Commercial Aircraft to start delivering the new CS150s in the fourth quarter of 2019.