Friday, June 8, 2018

CSeries deal closing July 1

The Airbus, Bombardier and Investissement Quebec have agreed to close the CSeries transaction July 1. The deal will result in the creation of a final assembly line for the CSeries jetliners in Mobile, Ala. The CSeries is built in Quebec, but this deal will give Bombardier a second assembly line for the jetliner. The CSeries assembly line in Alabama will be built north of the current Airbus A320 series assembly line at the Mobile Aeroplex. All regulatory approvals required for the closing have been obtained, officials announced today. The deal gives Airbus a majority stake in the CSeries Aircraft Limited Partnership (CSALP). The head office, primary assembly line and related functions will be based in Mirabel, Quebec. The deal was initially announced in October 2017. The C Series program continues to ramp up. Having delivered 17 aircraft in 2017, it is gearing up to double its deliveries in 2018. Bombardier will start building jetliners in Mobile next year for U.S. customers, with the first delivery in 2020, according to Bloomberg. (Source: Airbus via Globe Newswire, 06/08/18) Previous