Bombardier can count on Quebec for financial aid, Premier Philippe Couillard says
Bombardier Inc., draining cash amid delays on its marquee CSeries jetliner, can count on Quebec’s provincial government if the planemaker needs financial assistance, Premier Philippe Couillard said.
Even with the shares plunging 62 per cent this year and the CSeries $2 billion over budget, Bombardier’s central role in Quebec’s aerospace industry makes it a “huge asset” worthy of supporting, Couillard said.
“If they need something we will be ready to help them — not only because of the company itself, but the whole impact on the economy in Montreal and the aeronautical cluster,” the premier said Monday in an interview at Bloomberg headquarters in New York. The industry employs more than 41,000 people in the province…
Certification tests of the CS100 – the smaller of two variants of the CSeries family [Bombardier webpage here] – are more than 88 per cent complete, Bombardier said on Friday. The plane is on schedule for entry into service in the first half of 2016…
Couillard declined to elaborate on specific forms of assistance that Quebec might provide. In the past, government-owned agency Investissement Québec has provided such support as loan guarantees for foreign buyers of Bombardier aircraft.
“We’ve always been at the side of Bombardier,” he said. “If they ask, we will always be there.”
Et le fédéral? Another aspect of the Bombardier equation: