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Canada pledges C$372M in Bombardier jet aid

  • Canada's government announces it will provide C$372.5M in loans (US$282M) over four years to Bombardier (OTCQX:BDRAF, OTCQX:BDRBF) for the company's jet programs.
  • The company will receive ~C$250M for its Global 7000 business jet program, with the remainder for the C Series.
  • Bombardier initially asked Canada to match a C$1B injection in the CSeries program from the province of Quebec last year, but the company is now in a better position financially than when it asked for the matching $1B.

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