Quebec `Optimistic' on Canada Joining Bombardier C Series Rescueby
Quebec Economy Minister Jacques Daoust expressed confidence that Canada’s federal government will join the province in providing financing for Bombardier Inc.’s struggling C Series jet program.
“I remain optimistic,” Daoust said Friday in an interview in Montreal. “The federal government said they want a good business plan from Bombardier. I’m happy because they are seeking the same thing that we did.”
Federal support would complement Quebec’s Oct. 29 plan to pitch in $1 billion to shore up the troubled C Series program. The plane, running more than two years late and $2 billion over budget, and has become a cash drain on Montreal-based Bombardier, which has said it will need an additional $2 billion during the next five years.
Canada will only provide financial aid to Bombardier Inc. if there was a “strong business case,” Prime Minister Justin Trudeau said Tuesday in Ottawa.
Last week Daoust said he held “constructive” discussions about Bombardier with his federal counterpart, Navdeep Bains, in an effort to secure an “important” investment.