Airbus and Bombardier announced Monday that the European aerospace giant will assume a 50.01 percent interest in the Bombardier CSeries jet program. To keep it afloat, the CSeries program required a $1.25 billion investment last year by the province of Quebec, which will continue to own 19 percent, with Bombardier owning the remaining 31 percent. Bombardier shares rose as much as 26 percent the day after the bombshell announcement. Airbus CEO Tom Enders told a news conference that some airlines had been reluctant to buy the CSeries jets because of fears the program would collapse. With the resources of Airbus behind it, Bombardier and Airbus expect big gains in what had been lagging sales of the jet. Airbus did not have to put up any cash or assume debt in the deal.
This is a companion discussion topic for the original entry at https://www.avweb.com/recent-updates/business-military/airbus-to-revive-c-series