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Boeing CDR (CAD Hedged)
Symbol BA
Shares Issued 150,000
Close 2023-11-29 C$ 39.63
Market Cap C$ 5,944,500
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Globe says Bombardier hears feds prefer Boeing

2023-11-30 08:21 ET - News Release

See In the News (C-BBD) Bombardier Inc (2)

The Globe and Mail reports in its Thursday edition that Ottawa is poised to award a sole-source contract for new military surveillance aircraft to Boeing, despite appeals from rival Bombardier and other domestic aerospace players, which have vowed to fight the decision in court. The Globe's Nicolas Van Praet and Robert Fife write that the government is expected to make the announcement today. Bombardier and several other Canadian manufacturers have been pushing for an open competition to supply the Canadian Multi-Mission Aircraft project (CMMA), which aims to find a replacement for the military's CP-140 Aurora planes manufactured by the Lockheed. The government is opting instead for a one-on-one agreement to purchase Boeing's P-8A Poseidon reconnaissance jets from the Virginia-based plane maker. The contract, estimated to be worth $6-billion to $10-billion, is one of the largest military procurements in years. Cabinet went with the Boeing surveillance aircraft for three principal reasons: It meets the requirements of the Canadian military, it is compatible with the U.S. and NATO allies, and the price is competitive. The feds say the contract will benefit Canadian companies across the country, particularly in Montreal.

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