Quebec’s pension plan has paid $1.5 billion for a 30 percent stake in Bombardier’s train manufacturing business but the company will use some of the money to fund full certification of its CSeries airliner. The purchase follows a $1 billion bailout by the Quebec government that targets the CSeries program. The company has also asked the Canadian federal government for a cash infusion. The flow of money to the company is expected to not only ensure the CSeries will get finished but it’s likely to calm fears about the company’s ability to carry through the work that comes after certification.
So, it’s not surprising the announcement came as Bombardier announced its meeting with United Airlines to pitch the CSeries as a replacement for its feeder lines’ fleet of Embraer regional jets. Embraer, of course, is also pitching its updated E190 regional airliners but while Bombardier’s jets are on the verge of certification, the new E jets are a couple of years away. “We’re now switching over and making a more concentrated effort on sales and marketing outreach,” Bombardier spokeswoman Marianella de la Barrera told the Globe and Mail. “It was a little tougher to do when the aircraft were [all] in the flight test program.”
