Bombardier Seals Quebec Deal as C Series Focus Shifts to Trudeau
- Province to invest $1 billion in overdue, overbudget jetliner
- Narrow-body plane marks effort to challenge Boeing and Airbus
Attendees view the new Bombardier Inc. CS100 airplane during an event at the company's facility in Toronto on Sept. 10, 2015.
Photographer: Kevin Van Paasen/BloombergThis article is for subscribers only.
Bombardier Inc. sealed a deal for Quebec’s provincial government to invest $1 billion in the troubled C Series jetliner, putting the spotlight on whether the federal government also will help the Canadian planemaker take on industry heavyweights Boeing Co. and Airbus Group SE.
Under a deal that took eight months to nail down, the C Series program will be carved out into a partnership that will be 50.5 percent owned by Bombardier and 49.5 percent by Quebec, the Montreal-based company said in a statement Thursday. The province’s investment will consist of two $500 million payments, on June 30 and Sept. 1.