cseries2014

Bombardier agrees $1bn Quebec CSeries investment

Bombardier has struck a deal with the Quebec government to receive $1bn in financial support for its troubled CSeries programme.

Bombardier has struck a deal with the Quebec government to receive $1bn in financial support for its troubled CSeries programme.

As part of the investment, the regional government will take a 49.5 per cent stake in the CSeries, which has been beset by a series of delays in the run up to its entry into service with Swiss International Air Lines next month.

The finance will be issued in two installments of $500m, with the first at the end of June followed by the second in September.

Alain Bellemare, Bombardier chief executive, said the deal will allow the aircraft manufacturer to strengthen customer confidence in the CSeries and provide it with the financial flexibility needed to compete.

Montreal-headquartered Bombardier remains in talks with Canada’s federal government for additional support.

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