Bombardier cash boost

The Canadian government is to provide C$372.5m over four years in repayable funds to the country’s major aircraft manufacturer, Bombardier. A statement said the funding would support jobs, strengthen Bombardier’s competitiveness and “help to build the aircraft of the future”.

The statement said the initiative would fund research and development for the new Global 7000 business jet and ongoing activities related to the development of the Bombardier’s C Series aircraft.

Company CEO Alain Bellemare said: “This repayable contribution will help to ensure that Canada remains at the centre of Bombardier’s research and development activities, which are focused on developing the most efficient, reliable and environmentally friendly aircraft in the world.

“While we compete globally, we are proud of our Canadian home, our heritage and our position as one of Canada’s leading high-technology manufacturers and employers.”

The government statement said ministers were committed to keeping Canada at the forefront of global leadership in the aerospace sector, one of the most innovative in the country, providing more than 200,000 quality jobs and C$28bn billion annually in GDP to Canada’s economy.

http://www.bombardier.com

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