Canada pledges S$401m loan to Bombardier for jet programmes

Montreal

THE Canadian government on Tuesday announced C$372.5 million (S$401.1 million) in repayable loans for two of Bombardier Inc's jet programmes, promising to defend the deal against a potential trade challenge by Brazil.

While the aid was far less than the US$1 billion sought by the Canadian plane and train maker, chief executive officer Alain Bellemare called it the right level of support, saying the company's financial situation had improved.