Bombardier Weighs Exit From Airbus Canada Venture
January 16 2020 - 7:55AM
Dow Jones News
By Colin Kellaher
Bombardier Inc. (BBD.B.T, BBD.A.T) said Thursday it is
reassessing its participation in Airbus Canada L.P., the joint
venture responsible for the Airbus A220 family of single-aisle
passenger aircraft.
Bombardier, which is in the process of exiting the commercial
aerospace segment, said the venture's latest financial plan calls
for additional cash investments to support production ramp-up,
pushes out the break-even timeline and generates a lower return
over the life of the program.
The Montreal maker of planes and trains said the plan may
significantly impact the venture's value, adding that it will
disclose the amount of any write-down when it reports its
fourth-quarter results.
The venture, which is majority owned by European plane maker
Airbus SE (AIR.FR) has its headquarters and manufacturing
facilities in Mirabel, Quebec.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
January 16, 2020 07:40 ET (12:40 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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