Bombardier Receives $282 Million Investment from Canada
Monday, 13 February 2017 09:49

bombardier_c_seriesInterest-free loans will fund C Series and Global 7000 jet programs.

Bombardier is poised to receive a boost in funding for its C Series and Global 7000 jet programs.

The Montreal-based jet maker announced this week it will receive roughly $282 million ($372.5 million in Canadian dollars) in interest-free loans over the next four years from the Canadian government.

Bombardier, which saw production delays in its C Series commercial jet program, had previously requested $1 billion from Canada in 2015.

The Global 7000, Bombardier’s large-cabin business jet, made its maiden flight late last year, with first deliveries slated for late next year.

Meanwhile, the Brazilian government and business jet competitor Embraer have questioned whether Canada’s funding for Bombardier violates World Trade Organization rules. On Wednesday, Brazil sought consultations with Canada before the WTO, according to Bloomberg. Embraer says Bombardier has received more than $4 billion in Canadian funding.

Canada maintains its funding does not flout international trade rules.

(flyingmag.com)

Photo credit: flyingmag.com

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