Bombardier leaves commercial aviation business, sells remaining stakes in A220 program

Article Link: https://www.cbc.ca/news/canada/montreal/bombardier-financial-results-airbus-c-series-1.5462182

Discussion posted by: Arye ben-Shaoul

Quebec aerospace giant Bombardier is leaving the commercial aviation business, the company announced late Wednesday night. The multinational corporation said it sold its remaining stake in the A220 program — formerly known as the C Series — to Airbus. Bombardier has been re-organizing its business in an effort to pay off a multi-billion dollar deficit. Under the deal, Airbus now owns a 75 per cent stake in the commercial jet program. The Quebec government, which is not injecting any new money into the program, owns 25 per cent.