Airbus takes control of Bombardier jets in rebuff to US threat
Wed, Oct 18, 2017 - 5:50 AM
It's not quite the time for party balloons, but the news comes as Bombardier is in the middle of a five-year turnaround plan after considering bankruptcy. It was strapped for cash after developing multiple plane programmes simultaneously, including the CSeries.
AIRBUS SE agreed on Monday to buy a majority stake in Bombardier Inc's CSeries jetliner programme, grabbing control of a struggling competitor at the second attempt and giving the Canadian plane-and-trainmaker an unexpected boost in its costly trade dispute with Boeing Co.