Friday 17 August 2018

Airbus seals deal for Bombardier C Series

Tom Enders
Tom Enders
Ellie Donnelly

Ellie Donnelly

Airbus, Bombardier and Investissement Québec have agreed to close the deal for Bombardier C Series, the companies said in a joint statement today.

The transaction, in which Airbus will acquire a majority stake in the C Series Aircraft Limited Partnership (CSALP), was initially announced in October 2017.

The partnership is set to benefit from Airbus’ global reach, scale, procurement organisation and expertise in selling, marketing and producing the C Series, a statement from the companies said.

As previously announced, Bombardier will continue with its current funding plan of CSALP.

"This partnership extends our commitment to Québec and to all of Canadian aerospace, and we are very glad to welcome so many C Series teammates into the extended Team Airbus," Tom Enders, CEO of Airbus, said.

"The strength of the entire Airbus organisation will be behind the C Series. Not only will that enable this outstanding aircraft to fulfill its market potential, but we are convinced the addition of the C Series to our overall aircraft product offering brings significant value to Airbus, our customers and shareholders."

After launching the C Series in 2008 Bombardier spent more than $6bn developing the aircraft, equipping it with fuel efficient engines, larger windows, and wider than usual middle seats.

Bombardier employs around 4,000 workers in Northern Ireland.

(Additional reporting from Bloomberg)

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