Airbus buys majority of embattled Canadian jetliner program

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Airbus buys majority of embattled Canadian jetliner program – Oct. 16, 2017

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Airbus (EADSY)on Monday announced it was acquiring a majority stake in rival Bombardier’s embattled C Series airliner program, reshaping the landscape in the transatlantic battle against plane maker Boeing.

The C Series had come under attack this year from Boeing, (BA) which alleged that Bombardier had sold the 100 to 150-seat jet to Delta Air Lines at “absurdly low prices.” The U.S. Department of Commerce has preliminarily levied a 300% tariff on the plane’s imports, setting up a diplomatic row that has drawn in the Canadian and U.K. governments.

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As part of the deal, Airbus will acquire 50.01% of the program and Bombardier and Investissement Québec will own approximately 31% and 19% respectively.

Crucially, Airbus will establish a second final assembly line for the jetliner in Mobile, Alabama, where the European plane maker currently builds larger single-aisle jets for U.S. airlines.

CNNMoney (Seattle) First published October 16, 2017: 6:52 PM ET

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