07:23:42 EDT Fri 17 May 2024
Enter Symbol
or Name
USA
CA



Bombardier Inc (2)
Symbol BBD
Shares Issued 87,154,399
Close 2023-12-19 C$ 52.21
Market Cap C$ 4,550,331,172
Recent Sedar Documents

Globe/CP say Bombardier won't fight feds on Boeing deal

2023-12-20 07:05 ET - In the News

The Globe and Mail reports in its Wednesday edition that Bombardier will not contest the federal government's decision to replace the military's aging patrol planes with aircraft from U.S. rival Boeing. A Canadian Press dispatch to The Globe says that Ottawa plans to buy at least 14 Boeing surveillance planes from the U.S. in a sole-source deal to phase out Canada's half-century-old fleet of CP-140 Auroras. Defence Minister Bill Blair said on Nov. 30 that Boeing's P-8A Poseidon aircraft, which features submarine-hunting technology and anti-ship missiles, meets all the needs of the Royal Canadian Air Force. It presents "the only choice" available, he said, given Bombardier's proposed alternative is not slated to roll off the line until the early 2030s. In a statement, Bombardier said it remains "deeply disappointed" it was not allowed to bid on the contract, but will hold off on a court challenge. Bombardier and Boeing have clashed before. In 2020, the former sold its remaining stake in the A220 jetliner program, marking the end of its failed bid to take on the commercial aircraft duopoly of Airbus and Boeing. Earlier, Boeing complained to a U.S. trade panel about subsidies from the federal and Quebec governments.

© 2024 Canjex Publishing Ltd. All rights reserved.