The European aircraft manufacturer Airbus and Canadian Bombardier Inc. will become partners in C Series passenger jet business.
Airbus will acquire a 50.01% stake in Bombardier Inc.’s C Series passenger jet program (CSALP). Bombardier and Investissement Quebec will hold approximately 31% and 19% of the venture respectively. The headquarters of CSALP and the main production will remain in Quebec.
The Canadian plane maker is forced to go on sale of assets to cover the costs associated with the possible introduction of a 300% duty on Bombardier CSeries by the U.S. administration.