Airbus set to close deal on Bombardier CSeries programme on 1 July.

 

Airbus will close the deal to acquire a majority stake in the Bombardier CSeries programme on 1 July.

All required regulatory approvals required to take the 50.01% stake in the CSeries Aircraft Limited Partnership, a joint venture between Bombardier and Investissement Quebec (IQ) – the deal, which was initially announced in October 2017 – will be closed.

Airbus will work with its partners Bombardier and IQ to fully unlock the C Series’ potential and create significant new value for customers, suppliers, employees, shareholders and the communities in which the partnership operates.

The partnership’s head office, primary assembly line and related functions will be based in Mirabel, Québec.

The deal will safeguard 1,000 jobs at the Bombardier factory in Belfast

Airbus Chief Executive Officer Tom Enders said:

“This partnership extends our commitment to Québec and to all of Canadian aerospace, and we are very glad to welcome so many C Series teammates into the extended Team Airbus.

The strength of the entire Airbus organization will be behind the C Series. Not only will that enable this outstanding aircraft to fulfill its market potential, but we are convinced the addition of the C Series to our overall aircraft product offering brings significant value to Airbus, our customers and shareholders.”