Belfast Telegraph

Plane maker Bombardier secures final bailout

By John Mulgrew

Bombardier has received its final instalment of a massive $1bn bail-out from the Quebec government in Canada.

The aerospace giant, which employs around 5,000 staff in Belfast, was given the huge cash injection after its flagship CSeries passenger jet series ran well over budget.

The Quebec government now has a 49.5% share in the CSeries jets, in return for the bailout funds. Bombardier is also negotiating a bailout from the federal government.

Last month, customer Swiss Air said it was "satisfied" with the performance of the plane maker's flagship passenger jets, a month after they went into service.

The much-anticipated CSeries jet made its debut in July, with its first customer Swiss Air flying a CS100 from Zurich to Paris.

A second CS100 also began scheduled flights last month, linking Zurich to Paris. It comes after the Belfast Telegraph revealed Bombardier is moving some of its operations away from Northern Ireland to cheaper countries, including Mexico and Morocco.

The Canadian-owned firm is also bringing forward 95 planned redundancies.

Belfast Telegraph

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