MIAMI — Bombardier has received the final installment of Quebec’s US$1-billion investment in the company’s CSeries commercial jet program.
The installments were made as scheduled. The first took place on June 30 and the second was received yesterday. Earlier this year, the Canadian airframer and the Government of Quebec, agreed to create the CSeries Aircraft Limited Partnership (CSALP), which is 50.5% owned by Bombardier and 49.5% owned by the Government of Quebec.
The investment will be used entirely for cash flow purposes of the CSALP, thus helping to stabilize the finances of the CSeries program after several delays and cost overruns.
Embraer, direct competitor of Bombardier, has raised concerns over the investment, which upon the view of the Brazilian airframer is a state aid, and threatened to file a complaint with the World Trade Organization.
The delivery of the first CS100 to Swiss International Air Lines (SWISS) was made at the end of June, followed by a second in mid August. SWISS says the initial aircraft performed as expected despite a few minor issues during the first month of service.
Bombardier has logged 318 firm orders for the CS100 and the larger CS300 with up to 160 seats.
The first CS300 plane is slated to be delivered to Latvia’s airBaltic later this year.