04:10:52 EDT Fri 17 May 2024
Enter Symbol
or Name
USA
CA



Bombardier Inc (2)
Symbol BBD
Shares Issued 87,301,073
Close 2024-01-22 C$ 48.52
Market Cap C$ 4,235,848,062
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Globe/CP say Bombardier wins court fight over Honeywell

2024-01-22 07:21 ET - In the News

The Globe and Mail reports in its Saturday edition that engine supplier Honeywell International must negotiate with Bombardier on the cost of the jet engines it rolls out for the Montreal-based plane maker, a Quebec Superior Court judge has ruled. A Canadian Press dispatch to The Globe says that the decision in December marks the latest development in an eight-year dispute between the partners. The judge found that Honeywell has an obligation to negotiate in good faith with Bombardier with the goal of reducing the price of propulsion systems installed in its Challenger business jets. The ruling also requires the U.S. manufacturer to hand over a sheaf of sales records to an independent auditor, who will assess whether the company sold turbofan engines to rivals at lower rates, which the contract with Bombardier prohibits. Honeywell has filed a motion to appeal the decision. Bombardier first sued Honeywell in 2016, soon after competitors began looking to get in on the market for a long-range "supermid-size" business jet that Bombardier had carved out. Starting in the 1990s, Honeywell began to design and build engines exclusively for Bombardier, but later began supplying similar systems to Bombardier's rivals.

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