Min­is­ter says Bom­bardier aid re­quest is be­ing stud­ied

The Guardian (Charlottetown) - - BUSINESS - THE CANA­DIAN PRESS

The fed­eral eco­nomic de­vel­op­ment min­is­ter says he is con­tin­u­ing to ex­am­ine the re­quest for fi­nan­cial aid from strug­gling aero­space gi­ant Bom­bardier Inc.

“It’s really about making sure we go through the process and eval­u­ate all the key fac­tors,” Navdeep Bains said Thurs­day fol­low­ing an un­re­lated an­nounce­ment.

“We understand the sig­nif­i­cance of the aero­space sec­tor. We’ll keep that in mind and take a holis­tic ap­proach. But we’re really go­ing to look at it at the busi­ness case level.”

There is no set timetable, he added. Bom­bardier (TSX:BBD.B) CEO Alain Belle­mare asked Ot­tawa for money late last year.

The re­quest came as the Que­bec gov­ern­ment pledged $1.3 bil­lion in Oc­to­ber to help Bom­bardier com­plete the CSeries air­craft line in an ef­fort to re­as­sure po­ten­tial cus­tomers.

At the time, Que­bec Econ­omy Min­is­ter Jac­ques Daoust said he ex­pected Ot­tawa to also help Bom­bardier and match the Que­bec gov­ern­ment’s US$1-bil­lion fi­nan­cial in­vest­ment in the com­mer­cial air­craft that was cer­ti­fied by au­thor­i­ties ahead of en­ter­ing into ser­vice in the com­ing months.

The Que­bec gov­ern­ment will own 49.5 per cent of a new joint com­pany with Bom­bardier that would be solely re­spon­si­ble for the CSeries air­craft and give the prov­ince a say in the de­vel­op­ment of the air­craft.

Newspapers in English

Newspapers from Canada

© PressReader. All rights reserved.