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Airbus ties up majority stake in Bombardier plane project

Airbus ties up majority stake in Bombardier plane project
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Airbus has agreed to buy a majority stake in Bombardier’s struggling C-series jet project.

The agreement will be a breath of fresh air for the Canadian firm, which has not won new orders for CSeries for 18 months.

Airbus will take 50.01 percent stake in the venture for no extra cost.

In return Bombardier gains improved economies of scale, a better sales network and, crucially, the partnership could change the power balance in the trade dispute with Boeing.

The US aircraft manufacturer accused the Canadian firm of dumping its planes at below cost price.

Washington then slapped a 300 percent import levy on Bombardier.

The C-series will now be built at Airbus’s Alabama assembly plant, thus sidestepping any import penalties, a move that has apparently caught Boeing off guard.

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