Airbus is Handed Control of Bombardier CS Series Jet For Next to Nothing – IOTW Report

Airbus is Handed Control of Bombardier CS Series Jet For Next to Nothing

After being slapped with a 300 percent tariff and not making any sales in 18 months on its new mid-size CS Series airliner, Canada’s Bombardier struck a deal with Airbus yesterday. Airbus gets 50.1 percent of the airliner while paying nothing but promises to help market the aircraft.

There is talk that Airbus could make its plant in Alabama available to manufacture the aircraft, thus skirting U.S. trade restrictions. The giveaway was struck after the Canadian government bailed out the program back in February with a $297 million loan to Bombardier along with another estimated $C3.7 subsidy already committed by Canada.

Airbus shares were up 3.53 percent overnight on the news.

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15 Comments on Airbus is Handed Control of Bombardier CS Series Jet For Next to Nothing

  1. Another inovative Canadian company tossed away because of incredibly bad management by its executives and senior management as well as both the federal and provincial governments. I’ll bet those bastards get bonus’s over this instead of the jailtime they deserve. To be fair I think that’s how FIAT got ahold of Chrysler. GODDAMMIT Im MAD.

  2. You’d think with billions of taxpayer money already sunk into the project that the people of Canada should have some kind of say on who gets ownership of their assets.

    I know some GM stockholders that thought that way…

  3. @Burner (at 4:12 pm): It’s pronounced “ayr-buss“, like the words “air” and “bus” put together. It began in 1970 as a consortium of European aviation firms formed to compete with American companies such as Boeing, McDonnell Douglas, and Lockheed.

    Hope this helps.

    😉

  4. Bad Brad – good one. I’ve heard that one many times in the past. My Dad was an FAA bigwig and I can remember him telling us kids the nicknames the FAA had for certain airplanes. Airbus was called ScareBus.

    But the absolute #1 piece of shit Dad refused to fly on were the early-model DC-10’s. One time our family was at JFK fixing to walk down the jetway to board but Dad took one glimpse out the jetway porthole, saw that distinctive DC-10 tail-engine and made us walk back up the jetway. The airline’s gate people started to give him shit until he flipped open his FAA ID and demanded their supervisor. Well, we had to wait a few hours for the next flight but we eventually got there. Mom was fuming.

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