Bombardier: C Series deal with Airbus to close in July
(CercleFinance.com) - After receiving all the necessary regulatory approvals, Airbus will close on 1 July the acquisition of a majority stake in Bombardier's C Series jet airliner program, a deal that was initially announced in October 2017.
Bombardier aims to benefit from Airbus' global reach, scale, procurement organization and expertise in selling, marketing and producing the jet aircraft that competes in the 100-150 seat market.
Demand in this market segment is estimated at around 6,000 aircraft over the next 20 years.
The C Series program is currently being ramped up: after 17 deliveries in 2017, production is expected to double in 2018.
Bombardier also said that it has completed the sale of its Downsview property to the Public Sector Pension Investment Board for approximately 635 million dollars in order to strengthen its cash position.
Pursuant to a lease agreement with the purchaser, Bombardier will continue to operate the plant for up to three years, with two optional one-year extension periods.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Bombardier aims to benefit from Airbus' global reach, scale, procurement organization and expertise in selling, marketing and producing the jet aircraft that competes in the 100-150 seat market.
Demand in this market segment is estimated at around 6,000 aircraft over the next 20 years.
The C Series program is currently being ramped up: after 17 deliveries in 2017, production is expected to double in 2018.
Bombardier also said that it has completed the sale of its Downsview property to the Public Sector Pension Investment Board for approximately 635 million dollars in order to strengthen its cash position.
Pursuant to a lease agreement with the purchaser, Bombardier will continue to operate the plant for up to three years, with two optional one-year extension periods.
Copyright (c) 2018 CercleFinance.com. All rights reserved.