SET TO SOAR: Bombardier CEO Alain Bellemare. Picture: BLOOMBERG/CHRISTOPHER GOODNEY
SET TO SOAR: Bombardier CEO Alain Bellemare. Picture: BLOOMBERG/CHRISTOPHER GOODNEY

Airbus has sealed its control of Bombardier’s C Series, ushering in a new era for a plane with cutting-edge technology but a spotty sales record.

The European plane maker will hold a majority stake in the partnership, with the deal set to close and take effect on July 1.

Airbus’s takeover of the C Series sharpens a clash with Boeing for dominance in the lucrative market for single-aisle jetliners.

Stretching the rules?

The UK Financial Conduct Authority (FCA) will press ahead with introducing a new category in its "premium" listing rules next month. The change is aimed at attracting companies such as state-controlled Saudi Aramco to London, though the new rules have been tightened following criticism. The FCA’s proposal last year led to suggestions that the UK government had influenced the watchdog to try secure the Saudi energy company’s listing.

Saudi Arabia is expected to float up to 5% in Aramco in Riyadh and an international venue such as London or New York in what is expected to be the biggest initial public offering ever.

Reuters

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