18.63°C Vancouver

Feb 13, 2020 6:16 PM -

Bombardier completes its exit of commercial aviation as it sells CSeries stake

Share On
bombardier-completes-its-exit-of-commercial-aviation-as-it-sells-cseries-stake
The Montreal based company, Bombardier is transferring its shares to Airbus and the province as it tries to emerge from more than 9 billion dollars in debt.

Bombardier is selling its remaining stake in the A-220 jet for nearly 600 million dollars in a deal that involves Airbus and the Quebec government.

The Montreal based company is transferring its shares to Airbus and the province as it tries to emerge from more than 9 billion dollars in debt.

Quebec Economy Minister Pierre Fitzgibbon calls the agreement a ``win-win'' for all partners.

This morning Bombardier also reported a 2019 loss of 1.61 billion dollars.

Rumours persist that it will sell one of its two main divisions later this year.

Latest news

canada-makes-history-becomes-first-team-to-reach-fifa-world-cup-2026-round-of-16
CanadaJun 29, 2026

Canada Makes History, Becomes First Team to Reach FIFA World Cup 2026 Round of 16

Canada's national football team has made history by becoming the first team to reach the Round of 16 of the FIFA World Cup 2026. In their final group-stage match on Sunday, Canada defeated a strong South African side 1-0 to book their place in the knockout stage.It is the first time that Canada has won a knockout match at the FIFA World Cup. The Canadian team will now face the winner of the Netherlands vs. Morocco match in the pre-quarterfinal on July 4.The thrilling contest at Los Angeles Stadium remained goalless after the regulation 90 minutes, with both teams unable to find the back of the
no-canada-u-s-tariff-deal-expected-before-midterm-elections-former-trade-negotiator
CanadaJun 29, 2026

No Canada-U.S. Tariff Deal Expected Before Midterm Elections: Former Trade Negotiator

Canada's former chief trade negotiator, Steve Verheul, says he does not expect Ottawa and Washington to reach a tariff agreement before the U.S. midterm elections. Verheul said that while there may be a brief opportunity this fall for the U.S. administration to secure a political win through a trade deal, it is more likely that negotiations will continue into next year. He added that, so far, no proposal close to a favourable deal for Canada has been put on the table. He also questioned whether trade agreements signed by other countries with the United States would remain durable over the long
alberta-court-gives-partial-win-to-separatist-referendum-organizers
AlbertaJun 29, 2026

Alberta court gives partial win to separatist referendum organizers

Leaders pushing for a referendum on Alberta's separation from Canada have received a partial victory in court. Alberta Court of Appeal Justice Alice Woolley ruled today that the process of counting and verifying signatures collected for the separatist petition can proceed. The petition seeks a provincewide vote on Alberta leaving Canada and is being led primarily by activist Mitch Sylvestre. Last month, a lower court judge dismissed the petition, ruling that the Alberta government had failed to meet its constitutional duty to consult with First Nations. Immediately after that decision, the gr
AlbertaJun 29, 2026

Local state of emergency declared in Kananaskis Country as flooding cuts off access

A local state of emergency has been declared in parts of Kananaskis Country west of Calgary as flooding has damaged road access and left some people unable to leave the area. Alberta Parks said emergency crews are supporting campground evacuations where necessary, monitoring infrastructure and maintaining road closures as conditions continue to change. Officials have asked people already in the area to remain where they are and urged visitors to postpone travel until conditions improve. Authorities have not said how many people are stranded or whether there have been any injuries related to th
premier-danielle-smith-welcomes-agreement-between-calgary-and-stampede-event-operators
AlbertaJun 29, 2026

Premier Danielle Smith Welcomes Agreement Between Calgary and Stampede Event Operators

Alberta Premier Danielle Smith has welcomed an agreement reached between the City of Calgary and Stampede event operators over noise restrictions during this year's Calgary Stampede. Under the new deal, the city has agreed to allow slightly higher sound levels than those originally proposed, although they will still remain below last year's limits. In return, event organizers have accepted a condition requiring live music to end by midnight each night. Deputy Premier and Minister of Public Safety and Emergency Services Mike Ellis played a key role in resolving the dispute. He brought together

Related News