Bombardier suspends Russian plans in wake of sanctions

At stake is sale of US$3.4b of aircraft, turboprop assembly line in Russia

[MONTREAL] Bombardier Inc's plans to build planes in Russia and the sale of US$3.4 billion of aircraft will be delayed as Canada joins the US in imposing sanctions against Russia after it moved to annex Crimea, chief executive officer Pierre Beaudoin said.

"Right now, there's going to be a delay because of what's going on," Mr Beaudoin said last Thursday in an interview at Bloomberg's headquarters in New York.

Bombardier signed a letter of intent in August to sell Russia's state-owned Rostekhnologii as many as 100 Q400 turboprop aircraft valued at about US$3.4 billion, based on list prices. The Montreal-based company also reached a tentative deal to establish a turboprop assembly line in Russia...

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