Airbus & the Government of Québec now fully own the A220 program.
Just announced 10 minutes ago at Airbus’ 2019 Financial Results.
Bombardier will transfer its remaining 34% stake in the A220 program to Airbus and the Québec government
- Airbus previously had a 50.01% majority stake in the A220 program and will now have a 75% stake.
- The Government of Québec previously had a 16% stake in the program and will now have a 25% stake.
- Bombardier will receive a total $591 million USD.
- More than 3,300 Airbus jobs will be secured in Québec.
"This agreement with Bombardier and the Government of Québec demonstrates our support and commitment to the A220 and Airbus in Canada. Furthermore it extends our trustful partnership with the Government of Québec. This is good news for our customers and employees as well as for the Québec and Canadian aerospace industry,” said Airbus Chief Executive Officer Guillaume Faury. "I would like to sincerely thank Bombardier for the strong collaboration during our partnership. We are committed to this fantastic aircraft programme and we are aligned with the Government of Québec in our ambition to bring long-term visibility to the Québec and Canadian aerospace industry.”
Full Airbus Press Release: https://www.airbus.com/newsroom/press-releases/en/2020/02/airbus-and-the-government-of-qubec-become-sole-owners-of-the-a220-programme-as-bombardier-completes-its-strategic-exit-from-commercial-aviation.html
Congratulations to Airbus on this acquisition. The A220 is honestly a fantastic aircraft (RIP C-Series) and I can’t wait to see what Airbus does next with the program (A220-500 incoming).