IT'S LESS THAN THAN THEY WANTED BUT BOMBARDIER GETS FEDERAL MONEY

Feb 07, 2017

By Michael Kramer

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The Trudeau government says it will give Bombardier $372.5 million in repayable loans over four years – to support the company’s Global 7000 and CSeries aircraft projects.

Bombardier has been asking for US$1 billion in federal help since late 2015.

Last year, the company got a US$1-billion investment for the CSeries passenger jet program from the Quebec government – in exchange for a 49.5-per-cent stake.

The CSeries entered commercial service last year – after delays and cost overruns.

As of late November, Bombardier had received at least 360 firm orders for the jets.

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