Quebec Government To Invest $1bn In CSeries Programme

The government of Quebec is to invest $1bn in Bombardier’s troubled CSeries programme.

The government of Quebec is to invest $1bn in Bombardier’s troubled CSeries programme.

As part of the investment, the government will acquire a 49.5 per cent stake in a limited partnership to complete the CSeries programme which is three years overdue and around $650m over budget.

The partnership also includes Montreal-based Bombardier pledging to maintain CSeries operations in the Canadian province for the next 20 years.

Defending the government's decision, economy minister Jacques Daoust described Quebec’s aerospace manufacturing sector as its “crown jewel” and said the government couldn’t allow it to fail.

 

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