Bombardier Makes $3.9 Billion Deal With Chinese Bank
Bombardier has reached a $3.9 billion deal with China Development Bank Corporation's (CDBC) leasing department that could give it an important edge in selling aircraft in China. The bank has agreed to make the money available to airlines interested in buying aircraft from Bombardier. Although the financing will be available to overseas carriers, the funding will make it easier for domestic carriers to finance purchases from Bombardier, which is developing the 100-to-130-seat CSeries airliners. The fuselage for the aircraft will be built by Shenyang Aircraft Corp., which broke ground on the new factory last week.
The CDBC deal will be available for pre-delivery payment financing, delivery financing and leasing solutions to customers of Bombardier's CSeries, Q400 and CRJ aircraft. China is expected to be among the biggest customers for new airliners in coming years. It is developing its own regional jet.