Aircraft
Bombardier Consummates C Series Partnership with Quebec
First tranche of $1 billion investment to arrive on June 30
The first half of a $1 billion investment in the C Series program by the province of Quebec comes due on June 30. (Photo: Bombardier)
The first half of a $1 billion investment in the C Series program by the province of Quebec comes due on June 30. (Photo: Bombardier)

Bombardier has reached a definitive agreement for the previously announced US$1 billion investment by the Government of Québec in a newly created entity called the C Series Aircraft Limited Partnership (CSALP), the company said Thursday. The announcement follows some eight months of detailed negotiations over the deal, which calls for the disbursement of a $500 million investment tranche on June 30 and an equal amount on September 1. When complete, the investment will give the province of Quebec a 49.5-percent share in the CSALP while Bombardier continues to own a controlling stake. Bombardier therefore maintains operational control of the C Series program. Fred Cromer will serve as president of the CSALP and continue in his current role as head of Bombardier Commercial Aircraft.