* Firm orders for 16 Global business jets worth $1.05 bln
* Korean Air signals intention to buy 10 CSeries planes
* Helps offset disappointment on Qatar's deferred decision
* Bombardier stock rises 1.45 pct in Toronto
(Wraps different deals with analyst comments, stock move; in
U.S. dollars unless noted)
LE BOURGET, France, June 21 Bombardier Inc
(BBDb.TO) racked up more than $1 billion worth of firm business
jet orders at the Paris Air Show on Tuesday and moved to line
up the first Asian client for its all-new CSeries jet.
The deals helped offset disappointment over Qatar Airways'
announcement on Monday that it was deferring a decision on a
purchase of CSeries jets, Bombardier's bold and expensive move
into a new and bigger aircraft.
The world's third-biggest civil aircraft maker said on
Tuesday that Korean Air (003490.KS) had signed a letter of
intent to buy 10 CSeries CS300 aircraft, its first Asian
customer for the airplane, which is slated to enter service in
The news represents "a timely bounce-back" after the Qatar
announcement, Stonecap Securities analyst Scott Rattee said in
a note to clients from the airshow.
Korean Air also has options on 10 additional CS300 planes
and purchase rights on another 10. An option gives the buyer
the right to purchase with a delivery date, while a purchase
right does not have a delivery date.
"Korean Air is a well-recognized airline, thereby giving
more legitimacy to the CSeries program," National Bank
Financial analyst Cameron Doerksen said.
He noted that Korean Air was a Boeing Co (BA.N) narrow-body
aircraft customer so "this is a solid win for Bombardier,
likely against competition".
Montreal-based Bombardier has been under pressure to
announce new orders for its 110- to 145-seat CS100 and CS300
CSeries planes, which will compete against Boeing's 737 and
Airbus Industrie's EAD.PA A320. [ID:nL3E7H11Q0]
On Monday, Bombardier said it won an order for 10 CSeries
CS100 planes, worth $616 million at list price -- the third
deal within a month, after struggling for more than a year to
find orders for the airliner. [ID:nL3E7HK2HW]
Bombardier now has 113 firm CSeries orders, including 51
CS100s and 62 CS300s, and six customers.
Earlier on Tuesday, Bombardier said Switzerland's VistaJet
had placed an order for 10 Global 8000 long-range business jets
in a deal valued at about $650 million.
AVWest, a privately owned Australian aviation company, also
placed firm orders for four Global 7000 and two Global 8000
ultra long-range jets, valued at about $400 million.
Last October, Bombardier unveiled plans for the newest
additions to its Global family, the Global 7000 and the Global
8000, which will feature the largest cabins and fly the
furthest of any business jets in the market.
Bombardier's stock was up 10 Canadian cents, or 1.45
percent, at C$7.02 on the Toronto Stock Exchange on Tuesday
(Writing by Nicole Mordant in Vancouver; reporting by Bhaswati
Mukhopadhyay in Bangalore and Kyle Peterson in Le Bourget;
editing by Rob Wilson)