airBaltic has signed a firm purchase agreement to acquire 10 all-new Bombardier CS300 airliners. The Riga, Latvia-based airline also has purchase rights on a further 10 CS300 aircraft. The purchase agreement represents the conversion to firm orders of a Letter of Intent (LOI), announced at the Farnborough Air Show on July 10, 2012. The LOI also included the purchase rights on the 10 additional CS300 aircraft. Based on the list price of the CS300 airliner, the firm-order contract is valued at approximately US$764m and could increase to US$1.57bn should the 10 purchase rights be converted to firm orders.