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Bombardier gets boost from U.K. financing for C Series jet

Published 03/09/2018, 12:07 PM
Updated 03/09/2018, 12:07 PM
© Reuters.  Bombardier gets boost from U.K. financing for C Series jet
  • Bombardier (OTCQX:BDRAF, OTCQX:BDRBF) gets a boost as the U.K. government provides new financing to help sell its C Series jet, just weeks after the U.S. International Trade Commission determined that the Canadian company had not received unfair state subsidies.
  • The U.K. Export Finance agency will provide financing to Korean Airlines to help it purchase two CS300 aircraft; it is not known how much support is being offered but the list price for a CS300 plane is nearly US$90M.
  • Bombardier employs ~4K workers at plants in Belfast, Northern Ireland, including a major operation that makes wings for the C Series; while the U.K. government has provided ~£135M worth of loans to the plants over the years, it had not been involved in backing a sale of C Series airplanes.
  • Now read: Linde AG (DE:LING) 2017 Q4 - Results - Earnings Call Slides


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