04:33:36 EDT Fri 17 May 2024
Enter Symbol
or Name
USA
CA



Bombardier Inc (2)
Symbol BBD
Shares Issued 86,674,871
Close 2023-05-18 C$ 60.06
Market Cap C$ 5,205,692,752
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Globe says Bombardier aims high with military proposal

2023-05-19 08:07 ET - In the News

The Globe and Mail reports in its Friday edition that Bombardier is partnering with General Dynamics, one of the world's biggest defence contractors and the maker of Gulfstream private jets, on a surveillance aircraft with submarine hunting capability. The Globe's Nicolas Van Praet writes that Bombardier is supplying the jet, a modified version of its Global 6500, while General Dynamics contributes much of the "mission systems," including sonar equipment and satellite communications. An image rendering of the proposed plane released by the companies shows torpedoes and missiles fitted under the plane's wings. Such weapons would be supplied by the Canadian government. "This is a generational opportunity," for Bombardier to deliver a made-in-Canada solution for the government's needs, Jean-Christophe Gallagher, the executive leading Bombardier's defence unit, said in a statement. Bombardier generates most of its money selling luxury jets to billionaires and charter operators. It also has a small defence business. Bombardier's defence business consists of specialized aircraft used by governments for intelligence, reconnaissance and other applications. The federal government has said it is still analyzing its options.

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