Airbus to take majority stake in Bombardier’s C Series passenger jet
The deal could test China’s ambitions in the passenger aircraft market
Singapore/Beijing/London — Airbus plans to buy a majority stake in Bombardier’s C Series passenger jet programme, injecting critical financial support and expertise into a project that may test China’s aircraft-selling ambitions. The European plane maker will take a 50.01% stake in a partnership controlling the C Series, a single-aisle plane typically seating 108 to 160 passengers. The C Series has left Bombardier short of cash after more than $2bn in cost overruns. British Business Secretary Greg Clark on Tuesday welcomed the deal, saying Britain would work closely with the companies to protect its interests. "There is some way to go before the deal is completed and our number one priority throughout will be the workforce in Northern Ireland," Clark said. Britain would also continue to work with Canada to end Bombardier’s costly trade dispute with Boeing, he said. Bombardier CEO Alain Bellemare said Airbus, which will provide sales and marketing as well as customer support for the ...
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