Airways Magazine

Quebec Government Completes US$1 Billion CSeries Investment to Bombardier

 Breaking News

Quebec Government Completes US$1 Billion CSeries Investment to Bombardier

Quebec Government Completes US$1 Billion CSeries Investment to Bombardier
September 02
12:23 2016

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.

Comments
0

About Author

Roberto Leiro

Roberto Leiro

Airline and Aviation Writer, with a Fascination for Languages and History, Translator, Incurable Planespotter and Aviation Enthusiast.

Related Articles

1 Comment

  1. Tomas Chlumecky
    Tomas Chlumecky September 03, 10:22

    It is not 370 orders, Bombardier finally withdrew the 40 CS300 order from Republic Airways this year from its “order” book, and Ilyushin Finance Corporation (Russia) reduced its order for 32 CS300’s to 20, so official order book now stands at 318 after 8 years of sales.
    Not good, and very worrying as all orders as orders are being done below cost, and Bombardier is not in a position to keep that up for long.
    Cannot get a premium for the high tech CSeries and now forced to discount as much as 69% for a deal like Delta Air Lines, and lose lots of money, and it cannot compete on price with Airbus and Boeing, so what is left ??

Only registered users can comment.

Current Issue

Cart

Subscribe to our weekly Newsletter

Polls

Would you feel safe flying on a Boeing 737 MAX once the grounding is lifted?

View Results

Loading ... Loading ...

@airwaysmagazine

Airways YouTube Channel

Polls

Would you feel safe flying on a Boeing 737 MAX once the grounding is lifted?

View Results

Loading ... Loading ...
0