Thursday, July 3, 2025
  • Home
  • World
    Left to Right- Ishfaaq Uvaim, Manager Telangana and Andhra Pradesh;  Mr. Dheera Hettiarachchi, Chairman, Sri Lanka Convention Bureau;  Mrs. Harsha Ruparathne, Actg. Deputy High Commissioner, Sri Lanka Deputy High Commission in Chennai, India;  Mrs. Malkanthi Welikala, Manager – Marketing, SLCB

    Sri Lanka Tourism boosts Indian MICE Engagement with Dynamic and Exclusive Networking Evening in TAJ Krishna, Hyderabad

    European Leaders Join Forces to Drive Growth and Innovation  

    Boeing Names Stephen Parker as CEO of Defense, Space & Security

    Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman Highlights Key Policy Measures to Promote Export-led Growth at Exim Bank’s Trade Conclave

    Tobacco control efforts protect 6.1 billion people – WHO’s new report

    MB Patil Showcases Karnataka’s Investment Potential During Denmark Roadshow

  • National
    • All
    • Economy & Politics
    • Election

    “Deprived farmers of J&K will receive benefits under PM-KISAN” — Union Minister Shivraj Singh Chouhan

    Stellantis Pro One announces start of production in the Italian Atessa plant of new versions of the Large Van “Cargo Box” and Recreational Vehicles

    RELIANCE RETAIL STRENGTHENS BEAUTY PLAY WITH STRATEGIC INVESTMENT IN UK-BASED FACEGYM

    Sri Lanka Tourism boosts Indian MICE Engagement with Dynamic and Exclusive Networking Evening in TAJ Krishna, Hyderabad

    Shikshagraha Awards 2026: Call for Nominations to Honour Education Leaders

    Indian Bank waives off Minimum Balance Charges on Savings Accounts; Reduces MCLR to 9.00%

  • Business

    “Deprived farmers of J&K will receive benefits under PM-KISAN” — Union Minister Shivraj Singh Chouhan

    RELIANCE RETAIL STRENGTHENS BEAUTY PLAY WITH STRATEGIC INVESTMENT IN UK-BASED FACEGYM

    PNB Announces Waiver of Penal Charges for Non-Maintenance of Minimum Average Balance in all Savings Accounts

  • Health

    “Deprived farmers of J&K will receive benefits under PM-KISAN” — Union Minister Shivraj Singh Chouhan

    RELIANCE RETAIL STRENGTHENS BEAUTY PLAY WITH STRATEGIC INVESTMENT IN UK-BASED FACEGYM

    Wow! Momo Launches India’s First Gluten-Free Range of Momos – A Game-Changer for Health Conscious Foodies

    Apollo Cancer Centres Launches ‘CanWin’.

    Protect and Perfect: How Face Yoga and Sunscreen Can Transform Your Skin

    Panasonic partners with MeitY Nasscom Centre of Excellence (CoE) to accelerate innovation in Smart Residential Living

  • Technology
    • All
    • Environment
    • Science

    MiQ Sigma: Built at MiQ’s Bengaluru Centre of Excellence (CoE), the Industry’s First AI Platform That Unifies the Programmatic Ecosystem

    TECNO Gears up to Launch POVA 7 Series with Bold New Delta Interface on July 4, Exclusively on Flipkart

    Jockey Woman continues to shape India’s intimate wear landscape with strategic expansion

    AMD Unveils Vision for an Open AI Ecosystem, Detailing New Silicon, Software and Systems at Advancing AI 2025

    U.S. Insurers to More than Double AI Investment in the Next 3-5 Years: Wipro Report

    Union Minister for Agriculture and Farmers Welfare Shivraj Singh Chouhan to visit Hyderabad on Monday

  • Auto

    Stellantis Pro One announces start of production in the Italian Atessa plant of new versions of the Large Van “Cargo Box” and Recreational Vehicles

    Volvo Cars reports June sales

    Odysse Electric Clocks 344 Units Sold in June, Records 54% Monthly Growth

    DGCA carries out comprehensive surveillance at major airports, including Delhi and Mumbai

  • Sports

    TCS World 10K Bengaluru Ignites the Spirit of Giving: NGOs, Citizens, and Corporates raise INR 3.83 Crores for Social Good

    Picklebay India Tour Heats Up in Bengaluru: Nail-Biting Finishes, Packed Arenas, and Rising Stars

    Esports World Cup Foundation and Lenovo™ Partner to Power the Next Generation of Esports Champions

    Jockey Woman continues to shape India’s intimate wear landscape with strategic expansion

  • Entertainment

    A New Era in Luxury Weddings – Vogue Wedding Atelier Debuts in India

    GenS Life and Dowith Lit Present ‘Senior Spotlight’: Bengaluru’s Open Mic Celebration for the 55+

    PMJ Jewels Launches PMJ SuperStar Bracelet and ‘Celebrating Daughters’ Campaign

    ‘Waves’ an OTT platform that offers clean family-friendly content: Sunil Bhatiya, Deputy Director General, Doordarshan Kendra, Panaji

    Sri Sai Gold Palace’s 7th store inaugurated in Malleshwaram,Bengaluru.

    Lulu Mall Hosts Bangalore’s Biggest Non-Alcoholic Holi Celebration

  • Lifestyle
    • All
    • Food
    • Travel

    “Deprived farmers of J&K will receive benefits under PM-KISAN” — Union Minister Shivraj Singh Chouhan

    RELIANCE RETAIL STRENGTHENS BEAUTY PLAY WITH STRATEGIC INVESTMENT IN UK-BASED FACEGYM

    Sri Lanka Tourism boosts Indian MICE Engagement with Dynamic and Exclusive Networking Evening in TAJ Krishna, Hyderabad

    Fashion Meets Hip-Hop: The Indian Garage Co Drops ‘Yeno’ with Gubbi, Arcado & Awedeo — A High-Energy Musical Tribute to Namma Bengaluru

    Indian Luxury in Full Bloom: Radico Khaitan Unveils ‘Celebrate India’ Zone at Ospree- Mumbai Airport Duty Free

    Morpheus Super Premium Whisky: Radico Khaitan Ltd. Expands the portfolio, initiates launch in Uttar Pradesh

No Result
View All Result
  • Home
  • World
    Left to Right- Ishfaaq Uvaim, Manager Telangana and Andhra Pradesh;  Mr. Dheera Hettiarachchi, Chairman, Sri Lanka Convention Bureau;  Mrs. Harsha Ruparathne, Actg. Deputy High Commissioner, Sri Lanka Deputy High Commission in Chennai, India;  Mrs. Malkanthi Welikala, Manager – Marketing, SLCB

    Sri Lanka Tourism boosts Indian MICE Engagement with Dynamic and Exclusive Networking Evening in TAJ Krishna, Hyderabad

    European Leaders Join Forces to Drive Growth and Innovation  

    Boeing Names Stephen Parker as CEO of Defense, Space & Security

    Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman Highlights Key Policy Measures to Promote Export-led Growth at Exim Bank’s Trade Conclave

    Tobacco control efforts protect 6.1 billion people – WHO’s new report

    MB Patil Showcases Karnataka’s Investment Potential During Denmark Roadshow

  • National
    • All
    • Economy & Politics
    • Election

    “Deprived farmers of J&K will receive benefits under PM-KISAN” — Union Minister Shivraj Singh Chouhan

    Stellantis Pro One announces start of production in the Italian Atessa plant of new versions of the Large Van “Cargo Box” and Recreational Vehicles

    RELIANCE RETAIL STRENGTHENS BEAUTY PLAY WITH STRATEGIC INVESTMENT IN UK-BASED FACEGYM

    Sri Lanka Tourism boosts Indian MICE Engagement with Dynamic and Exclusive Networking Evening in TAJ Krishna, Hyderabad

    Shikshagraha Awards 2026: Call for Nominations to Honour Education Leaders

    Indian Bank waives off Minimum Balance Charges on Savings Accounts; Reduces MCLR to 9.00%

  • Business

    “Deprived farmers of J&K will receive benefits under PM-KISAN” — Union Minister Shivraj Singh Chouhan

    RELIANCE RETAIL STRENGTHENS BEAUTY PLAY WITH STRATEGIC INVESTMENT IN UK-BASED FACEGYM

    PNB Announces Waiver of Penal Charges for Non-Maintenance of Minimum Average Balance in all Savings Accounts

  • Health

    “Deprived farmers of J&K will receive benefits under PM-KISAN” — Union Minister Shivraj Singh Chouhan

    RELIANCE RETAIL STRENGTHENS BEAUTY PLAY WITH STRATEGIC INVESTMENT IN UK-BASED FACEGYM

    Wow! Momo Launches India’s First Gluten-Free Range of Momos – A Game-Changer for Health Conscious Foodies

    Apollo Cancer Centres Launches ‘CanWin’.

    Protect and Perfect: How Face Yoga and Sunscreen Can Transform Your Skin

    Panasonic partners with MeitY Nasscom Centre of Excellence (CoE) to accelerate innovation in Smart Residential Living

  • Technology
    • All
    • Environment
    • Science

    MiQ Sigma: Built at MiQ’s Bengaluru Centre of Excellence (CoE), the Industry’s First AI Platform That Unifies the Programmatic Ecosystem

    TECNO Gears up to Launch POVA 7 Series with Bold New Delta Interface on July 4, Exclusively on Flipkart

    Jockey Woman continues to shape India’s intimate wear landscape with strategic expansion

    AMD Unveils Vision for an Open AI Ecosystem, Detailing New Silicon, Software and Systems at Advancing AI 2025

    U.S. Insurers to More than Double AI Investment in the Next 3-5 Years: Wipro Report

    Union Minister for Agriculture and Farmers Welfare Shivraj Singh Chouhan to visit Hyderabad on Monday

  • Auto

    Stellantis Pro One announces start of production in the Italian Atessa plant of new versions of the Large Van “Cargo Box” and Recreational Vehicles

    Volvo Cars reports June sales

    Odysse Electric Clocks 344 Units Sold in June, Records 54% Monthly Growth

    DGCA carries out comprehensive surveillance at major airports, including Delhi and Mumbai

  • Sports

    TCS World 10K Bengaluru Ignites the Spirit of Giving: NGOs, Citizens, and Corporates raise INR 3.83 Crores for Social Good

    Picklebay India Tour Heats Up in Bengaluru: Nail-Biting Finishes, Packed Arenas, and Rising Stars

    Esports World Cup Foundation and Lenovo™ Partner to Power the Next Generation of Esports Champions

    Jockey Woman continues to shape India’s intimate wear landscape with strategic expansion

  • Entertainment

    A New Era in Luxury Weddings – Vogue Wedding Atelier Debuts in India

    GenS Life and Dowith Lit Present ‘Senior Spotlight’: Bengaluru’s Open Mic Celebration for the 55+

    PMJ Jewels Launches PMJ SuperStar Bracelet and ‘Celebrating Daughters’ Campaign

    ‘Waves’ an OTT platform that offers clean family-friendly content: Sunil Bhatiya, Deputy Director General, Doordarshan Kendra, Panaji

    Sri Sai Gold Palace’s 7th store inaugurated in Malleshwaram,Bengaluru.

    Lulu Mall Hosts Bangalore’s Biggest Non-Alcoholic Holi Celebration

  • Lifestyle
    • All
    • Food
    • Travel

    “Deprived farmers of J&K will receive benefits under PM-KISAN” — Union Minister Shivraj Singh Chouhan

    RELIANCE RETAIL STRENGTHENS BEAUTY PLAY WITH STRATEGIC INVESTMENT IN UK-BASED FACEGYM

    Sri Lanka Tourism boosts Indian MICE Engagement with Dynamic and Exclusive Networking Evening in TAJ Krishna, Hyderabad

    Fashion Meets Hip-Hop: The Indian Garage Co Drops ‘Yeno’ with Gubbi, Arcado & Awedeo — A High-Energy Musical Tribute to Namma Bengaluru

    Indian Luxury in Full Bloom: Radico Khaitan Unveils ‘Celebrate India’ Zone at Ospree- Mumbai Airport Duty Free

    Morpheus Super Premium Whisky: Radico Khaitan Ltd. Expands the portfolio, initiates launch in Uttar Pradesh

No Result
View All Result
No Result
View All Result
Home Business

Airbus and the Government of Québec become sole owners of the A220 Programme as Bombardier completes its strategic exit from Commercial Aviation

by FWM
February 14, 2020
in Business
0
13 February 2020
  • Bombardier transfers its remaining interest in Airbus Canada Limited Partnership (Airbus Canada) to Airbus SE and the Government of Québec
  • Airbus now holds 75 percent of Airbus Canada with the Government of Québec increasing its holding to 25 percent for no cash consideration
  • Bombardier work packages for the A220 and A330 will be transferred to Airbus, through its subsidiary Stelia Aerospace, securing 360 jobs in Québec
  • Bombardier will receive US$591M, net of adjustments, of which US$531M was received at closing, and is released of its future funding capital requirement to Airbus Canada
  • Over 3,300 Airbus jobs secured in Québec

Amsterdam / Montreal – Airbus SE (EPA: AIR), the Government of Québec and  Bombardier Inc. (TSX: BBD.B) have agreed upon a new ownership structure for the A220 programme, whereby Bombardier transferred its remaining shares in Airbus Canada Limited Partnership (Airbus Canada) to Airbus and the Government of Québec. The transaction is effective immediately.

This agreement brings the shareholdings in Airbus Canada, responsible for the A220, to 75 percent for Airbus and 25 percent for the Government of Québec respectively. The Government’s stake is redeemable by Airbus in 2026 – three years later than before. As part of this transaction, Airbus, via its wholly owned subsidiary Stelia Aerospace, has also acquired the A220 and A330 work package production capabilities from Bombardier in Saint-Laurent, Québec.

This new agreement underlines the commitment of Airbus and the Government of Québec to the A220 programme during this phase of continuous ramp-up and increasing customer demand. Since Airbus took majority ownership of the A220 programme on July 1, 2018, total cumulative net orders for the aircraft have increased by 64 percent to 658 units at the end of January 2020.

“This agreement with Bombardier and the Government of Québec demonstrates our support and commitment to the A220 and Airbus in Canada. Furthermore it extends our trustful partnership with the Government of Québec. This is good news for our customers and employees as well as for the Québec and Canadian aerospace industry,” said Airbus Chief Executive Officer Guillaume Faury. “I would like to sincerely thank Bombardier for the strong collaboration during our partnership. We are committed to this fantastic aircraft programme and we are aligned with the Government of Québec in our ambition to bring long-term visibility to the Québec and Canadian aerospace industry.”

ADVERTISEMENT

“I am proud that our government was able to reach this agreement. We have succeeded in protecting paying jobs and the exceptional expertise developed in Québec, despite the major challenges we faced in this regard when we took office. We have consolidated the government’s position in the partnership, while respecting our commitment not to reinvest in the program. By opting to strengthen its presence here, Airbus has chosen to focus on our talents and our creativity. The decision of an industrial giant like Airbus to invest more in Québec will help attract other world-class prime contractors,” the Premier of Québec, François Legault, stated.

“This agreement is excellent news for Québec and its aerospace industry. The A220 partnership is now well established and will continue to grow in Québec. The agreement will allow Bombardier to improve its financial situation and Airbus to increase its presence and footprint in Québec. It’s a win–win situation for both the private partners and the industry,” pointed out Pierre Fitzgibbon, Minister of the Economy and Innovation.

With this transaction, Bombardier will receive a consideration of $591M from Airbus, net of adjustments, of which $531M was received at closing and $60M to be paid over the 2020-21 period. The agreement also provides for the cancellation of Bombardier warrants owned by Airbus, as well as releasing Bombardier of its future funding capital requirement to Airbus Canada.

“This transaction supports our efforts to address our capital structure and completes our strategic exit from commercial aerospace,” said Alain Bellemare, President and CEO Bombardier, Inc. “We are incredibly proud of the many achievements and tremendous impact Bombardier had on the commercial aviation industry. We are equally proud of the responsible way in which we have exited commercial aerospace, preserving jobs and reinforcing the aerospace cluster in Québec and Canada. We are confident that the A220 program will enjoy a long and successful run under Airbus’ and the Government of Québec’s stewardship.”

The single aisle market is a key growth driver, representing 70 percent of the expected global future demand for aircraft. Ranging from 100 to 150 seats, the A220 is highly complementary to Airbus’ existing single aisle aircraft portfolio, which focuses on the higher end of the single-aisle business (150-240 seats).

As part of the agreement, Airbus has acquired the Airbus A220 and A330 work package production capability from Bombardier in Saint-Laurent, Québec. These production activities will be operated in the Saint Laurent site by Stelia Aéronautique Saint Laurent Inc., a newly created subsidiary of Stelia Aerospace, which is a 100 percent Airbus subsidiary.

Stelia Aéronautique Saint-Laurent will continue the production of the A220 cockpit and aft fuselage production, as well as A330 workpackages, for a transition period of approximately three years at the Saint-Laurent facility. A220 workpackages will then be transferred to the Stelia Aerospace site in Mirabel to optimize the logistical flow to the A220 Final Assembly Line also located in Mirabel. Airbus plans to offer all current Bombardier employees working on the A220 and A330 work packages at Saint-Laurent opportunities around the A220 programme’s ramp-up, ensuring know-how retention as well as business continuity and growth in Québec.

At the end of January 2020, 107 A220 aircraft were flying with seven customers on four continents. In 2019 alone, Airbus delivered 48 A220s, with the further ramp-up to be continued.

Tags: Airbus SEGovernment of Québec

FWM

Related Posts

Business

“Deprived farmers of J&K will receive benefits under PM-KISAN” — Union Minister Shivraj Singh Chouhan

by FWM
July 3, 2025
Business

RELIANCE RETAIL STRENGTHENS BEAUTY PLAY WITH STRATEGIC INVESTMENT IN UK-BASED FACEGYM

by FWM
July 3, 2025
Business

PNB Announces Waiver of Penal Charges for Non-Maintenance of Minimum Average Balance in all Savings Accounts

by FWM
July 3, 2025
Business

Pushpa Jewellers Limited IPO Opens on June 30, 2025

by FWM
July 3, 2025
Business

HOAC Foods India Limited’s QIP open on June 30, 2025

by FWM
July 3, 2025

Stay Connected

“Deprived farmers of J&K will receive benefits under PM-KISAN” — Union Minister Shivraj Singh Chouhan

July 3, 2025

Stellantis Pro One announces start of production in the Italian Atessa plant of new versions of the Large Van “Cargo Box” and Recreational Vehicles

July 3, 2025

RELIANCE RETAIL STRENGTHENS BEAUTY PLAY WITH STRATEGIC INVESTMENT IN UK-BASED FACEGYM

July 3, 2025

Recent News

“Deprived farmers of J&K will receive benefits under PM-KISAN” — Union Minister Shivraj Singh Chouhan

July 3, 2025

Stellantis Pro One announces start of production in the Italian Atessa plant of new versions of the Large Van “Cargo Box” and Recreational Vehicles

July 3, 2025

RELIANCE RETAIL STRENGTHENS BEAUTY PLAY WITH STRATEGIC INVESTMENT IN UK-BASED FACEGYM

July 3, 2025

PNB Announces Waiver of Penal Charges for Non-Maintenance of Minimum Average Balance in all Savings Accounts

July 3, 2025
ADVERTISEMENT

© 2018 | Fortune World Media | MEDIA & ENTERTAINMENT CO. IN | Powered by Raja's Digital

error: Content is protected !!
No Result
View All Result
  • Home
  • World
  • National
  • Business
  • Economy & Politics
  • Election
  • Health
  • Technology
  • Auto
  • Sports
  • Entertainment
  • Lifestyle

© 2018 | Fortune World Media | MEDIA & ENTERTAINMENT CO. IN | Powered by Raja's Digital

Exit mobile version