Bombardier: Boeing's ITC allegations over CSeries jet 'absurd'

|About: The Boeing Company (BA)|By:, SA News Editor

Canada's Bombardier (OTCQX:BDRAF, OTCQX:BDRBF) has fired back against Boeing's (BA +0.8%) claims at the International Trade Commission, calling allegations "absurd."

OTCQX:BDRBF fell 4.4% in OTC trading today, and Bombardier B shares fell 4.1% in Toronto, after Boeing pressed its petition arguing that CSeries jets benefited from Canadian subsidies and unfair pricing (including an "absurdly low" price of $19.6M for a jet it says cost $33M to build), creating a competitive threat to the 737.

That raised worries about a tariff from a trade-focused U.S. government.

Boeing isn't currently saying whether it will also pursue the Bombardier case through the World Trade Organization, as it had with Airbus -- a move that could take years longer to play out.