New Malaysian airline inks order to buy 20 Bombardier CS100 planes

A new Malaysian airline, flymojo, has inked an agreement to buy 20 CS100 aircraft from Canada's Bombardier Inc., becoming the first operator of the plane in the region.

A joint statement said the deal signed Tuesday on the sidelines of an airshow in northern Langkawi island is worth $1.47 billion based on CS100's list price.

Flymojo also has an option to buy another 20 of the same plane, which would increase the list price value to $2.94 billion.

Flymojo, which is expected to be a full service carrier, is entirely owned by Malaysians but officials declined to give details.

The statement said the airline will be operational in the first quarter of 2016, targeting Southeast Asian countries and their neighbors.