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.