(Adds impairment charges, joint venture background)
Oct 29 (Reuters) - Canadian plane and train maker Bombardier
Inc BBDb.TO reported a huge quarterly loss on Thursday tied to
impairment charges, and it outlined a plan that will see the
Quebec government invest $1 billion in its long-delayed CSeries
jet program.
The company confirmed a Reuters report from Wednesday that
it plans to form a joint venture with the government of Quebec
to complete work on the long-awaited new jet that is billions of
dollars over budget.
The Quebec government will hold a 49.5 percent stake in a
limited partnership set up to complete the program.
"This move will also keep C Series operations here in Québec
for at least another 20 years," said Quebec's Minister of
Economy, Innovation and Exports, Jacques Daoust, in a separate
statement.
The company reported a third-quarter loss of $4.6 billion or
$2.20 a share. That compared with net income of $74 million or 3
cents a share, a year earlier.
The quarterly loss was tied largely to impairment charges on
the CSeries and its Learjet 85 program that is being
permanently mothballed, as Reuters had earlier reported.