Bombardier is about to exit the aviation market completely.
Earlier this week it was revealed that Textron who manufacture the Cessna, are in talks to buy the entire Bombardier business jet operation.
Yesterday it was made clear that Airbus would buy out Bombardier from its remaining 34% share of the former CSeries, now the A220. The rest is owned by the state of Quebec.
Despite near heroic efforts to fund and develop the CSeries it was simply beyond Bombardier’s capabilities to finance it, and make a success of what is in fact one of the finest regional aircraft ever produced.
Billions in debt and also receiving billions in state aid from the Quebec Government to keep it going, it’s proven too much for the ailing company.
It sold off its Dash-8 Q400 factory and business to Viking Air. It then sold the CRJ business to Mitsubishi who are shutting the entire programme down to make way for their own regional jet.
With the sale of its remaining stake in the A220 – likely to be for nominal sum, it’s potential savings are around $400m it hasn’t got in development and investment charges, due over the next 12 months.
Bombardier will continue to manufacture trains and rolling stock.