UPDATE 2-Air Canada looking to firm up Bombardier CSeries order "soon"

Fri Apr 29, 2016 10:25am EDT
 
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(Adds details on Bombardier order, shares)

April 29 (Reuters) - Air Canada, the country's largest airline, said on Friday it was looking to finalize an order to buy 45 Bombardier Inc CSeries jets "soon", looking at firming up an order that was first announced in February.

Air Canada also reported a first-quarter profit, compared with a year-earlier loss, due to lower fuel costs, helping send the company's shares up 13 percent to C$9.37 in morning trading.

The carrier's order in February to buy the 45 planes, with an option to buy an additional 30, was valued at as much as $3.8 billion at the time, based on the list price of the aircraft.

"Subject to final documentation and satisfaction of conditions, we look forward to firming up the order soon," Chief Executive Calin Rovinescu said in an analyst call on Friday.

The order was the first in 16 months for the Bombardier CSeries aircraft, which has been plagued by delays and cost overruns. Delta Air Lines Inc on Thursday ordered 125 CSeries jets.

LOWER COSTS

Air Canada said on Friday it expects the strengthening Canadian dollar to lower costs for the year. A stronger Canadian dollar helps Canadian airlines as they purchase planes and fuel in U.S. dollars.   Continued...