Quebec Govt. on Bombardier’s Exit from Commercial Aviation

Headline Politics

Quebec Govt. on Bombardier’s Exit from Commercial Aviation

Quebec Premier François Legault speaks with reporters in Quebec City about Bombardier’s decision to leave the commercial aviation business. The Montreal-based company has transferred its remaining interest in the A220 jetliner program to Airbus SE and the Quebec government. Airbus now holds 75 per cent of the aircraft program, while the Quebec government’s stake increases to 25 per cent. Bombardier will receive US$591 million from Airbus. The agreement is part of Bombardier’s efforts to reduce its massive debt. Bombardier is also reportedly selling its rail division to a French company. (February 13, 2020) (no interpretation)