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Airbus has agreed to buy a majority stake in Bombardier’s CSeries jetliner programme, giving a powerful boost to the Canadian plane- and train-maker in its costly trade dispute with Boeing.
A Boeing spokesman dismissed the agreement as a “questionable deal between two state-subsidised competitors” to try to skirt a recent US trade finding against the CSeries.
In February, the Canadian government announced C2.5m (7m) in repayable loans for the CSeries and another Bombardier jet programme.
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“We’re doing this deal here not because of this Boeing petition.
Mainstream Adventists believe The #1 Matchmaking and Dating Service: It’s Just Lunch Taylor Swift shook off her last relationship with record speed.At on Tuesday morning, Airbus shares were up 2.5 per cent at €78.96, the biggest rise by a European blue-chip stock.Airbus chief executive Tom Enders said the company, based in Toulouse, France, had offered to assemble some of the narrowbody jets at its US plant in Alabama for orders by US carriers.The deal, which would come at no cost for Europe’s largest aerospace group, would give Airbus a 50.01 per cent interest in CSeries Aircraft Limited Partnership, which manufactures and sells the jets, the companies said.While Bombardier will lose control of a plane programme developed at a cost of bn (£4.5bn), it gives the CSeries improved economies of scale, a better sales network and, crucially, could change the power balance in the trade dispute with Boeing.