Aircraft
Reports: BBD To Receive CSeries Bailout, Shelve Lear 85
Bombardier is believed to be preparing for a $4 billion write down of both the CSeries and Learjet 85 as the Quebec government agrees to help.


Bombardier is believed to be nearing an announcement that it will receive an investment in its CSeries program from the Quebec government and that it is officially ending the Learjet 85 program. Reports surfaced today from Reuters and La Presse that the Canadian airframer is preparing to take a writedown of up to $4 billion for both the CSeries and Learjet 85 programs, but also will announce a bailout on the CSeries. The unconfirmed reports, which cite unnamed sources with knowledge of the situation, come in advance to Bombardier’s quarterly earnings release tomorrow and also follow the collapse of negotiations with Airbus over a possible investment. Officials from Bombardier and the Quebec government would not comment on the newspaper reports.

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