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Bombardier pitched majority CSeries stake to Airbus?
Bombardier has approached European planemaker Airbus about selling a majority stake in the Canadian company's CSeries jet in order to shore up its depleted balance sheet, people familiar with the matter said. Under a proposed tie-up, Airbus would help Bombardier complete development of the troubled aircraft in exchange for a controlling stake in the program, effectively ending Bombardier's independent efforts to break into the 100- to 160-seat airplane market dominated by Airbus and… (www.cbc.ca) Plus d'info...
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Not really putting this out as an I told you so, but more as a who didn't see this coming except Paul Tellier? They scrapped the Lear 85 at a cool 1.4 billion charge off, the much delayed C series can't get off the ground commercially, Flexjet is now buying Gulfstreams and they are negotiating with Airbus because they didn't want to do it in English! They were successful at their core manufacturing business and corporate aerospace. Shoulda stayed there and somebody needs some smaller britches.
Bang on.
There is an election going on...Harper to the rescue.
Perhaps we should hire some Air France employees to go to the Montreal head office and rough up some of the execs.
For those not familiar with Canada, these are Quebec jobs and to form a government in the next parliament, a particular party needs seats from that province. Bombardier has most of the C-program facilities at Mirabel.
There is also spill over into Ontario, albeit indirect, for the DASH 8 program is based at Downsview Airport (formerly RCAF Station Downsview). The overall health of the company is important for the many thousands of jobs in the important Toronto electoral districts.
There is also spill over into Ontario, albeit indirect, for the DASH 8 program is based at Downsview Airport (formerly RCAF Station Downsview). The overall health of the company is important for the many thousands of jobs in the important Toronto electoral districts.
Did Bombardier ever pay back the 87 mil that the Cdn Government loaned them?
