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Quebec considering further investment in Bombardier's CSeries

Published 2016-02-10, 06:35 p/m
© Reuters. Quebec considering further investment in Bombardier's CSeries
BBDb
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MONTREAL, Feb 10 (Reuters) - Quebec said on Wednesday it
would consider contributing further to Bombardier Inc 's
BBDb.TO CSeries jet, after making a $1.3 billion investment in
the troubled program last year, Canadian media reported.
Quebec's Transportation Minister Jacques Daoust said in the
province's provincial parliament that he would be willing to
help Bombardier once again if the Canadian government failed to
invest in the Canadian plane and train manufacturer by March 31.
"If by March 31 the federal government isn't there, the
Quebec government will have a decision to make. But we have
always supported Bombardier. It is a jewel of our economy and we
will make sure it continues that way," said Daoust who was
quoted by the French-language Journal de Montreal.
Bombardier accounts for about 40,000 direct and indirect
jobs in Quebec, with average salaries almost double the
provincial average, according to provincial data.
Daoust agreed to invest $1 billion in the 100-160 seat
CSeries jets in October when he was Quebec's economy minister.
The CSeries is expected to enter service this
year, after years of delays and snowballing costs.
Canada's Liberal government is now considering whether to
invest in the program, which has not had a new order in more
than a year.
On Jan. 27, shares of Canadian train and plane maker
Bombardier closed below C$1 for the first time since 1991,
putting the company at risk of being pushed out of major
Canadian indices.

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