Bombardier…
Via email; You need to update your story again. Quebec is no longer asking the new Liberal govt for a $350M loan. They’re asking Ottawa to match their $1.3B ($1B US) equity investment.
From the comments;
Does that mean that Shell can get $1 billion so it doesn’t cancel that heavy oil project in Alberta?
Paul in Calgary – the problem with Bombardier and the C-Series is that is WAS a great idea. Build a better >100 passenger jet than Boeing or Airbus with a passenger capacity just smaller than the A320 and B737. But they TOOK TOO LONG. If the C-Series had been flying in 2012 they would have beaten Airbus and Boeing. But the delays gave the bigger competitors time to re-engine and rejig their planes, eating into the fuel and noise advantages. If I have B737s and Boeing offers me a new model that is 20% better, and Bombardier offers me a NEW plane that is 30% better, I will tend for the one I know. An updated B737 is lower risk than the C-Series.
Canadian taxpayers will pay $1 billion through equalization for Quebec, and a further $1 billion through donations from Trudeau’s government. Bombardier and their unionized workers will scoop up the handouts.
What about the crappy, delayed Toronto streetcars taxpayers are paying for from Bombardier? Per seat, they’re more expensive than a Rolls-Royce.