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

BY The Canadian Press, Feb 13, 2020 10:16 AM - REPORT AN ERRORLAST UPDATED ON Apr 24, 2020 3:32 PM

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.

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