Under-pressure Bombardier seeking investors for aerospace business

By zaymalz malz

According to Bloomberg, Bombardier is currently exploring the idea of selling some of its aerospace assets, with the firm’s financial turnaround plan currently under pressure from the US with the crippling tariffs that are being imposed upon the Canadian firm.

Bombardier is apparently looking at selling its Q400 turboprop and its Canada Regional Jet (CRJ) units, with Bloomberg reporting that Airbus SE are amongst those interested.

This comes shortly after the Canadian company inked a $1.7bn deal with SpiceJet that will see the Indian firm take 50 of the Q400 aircraft.

See also:

The move is to try keep Bombardier’s finances secure, with the firm having suffered a number of setbacks of late. Its CSeries jets came to the market two years behind schedule and $2bn over budget, which now also face 300% in US import duties, whilst elsewhere the company also recently failed to secure a merger of its rail business with Siemens AG’s operations, despite months of negotiations.

However, certain sales, combined with Delta stating that they will proceed to purchase the CSeries jets, could get Bombardier’s five-year financial turnaround get back on track, having considered filing for bankruptcy back in 2015.

The firm saw 57% of its total revenue come from its aerospace business last year.


Featured Articles

How Elon Musk pulled off a $44bn hostile takeover of Twitter

As the world’s richest man, Elon Musk, takes over tech giant Twitter, we highlight the timeline that led to this titanic takeover

Amazon, Alphabet, Wells Fargo best workplaces, says LinkedIn

The top 50 workplaces to grow careers prioritise flexible work and tuition-support programs, as top-ranking firms Amazon and Alphabet prove, says LinkedIn

Top 10 women in technology in the US

These 10 women in tech are forging a path into bold areas of innovation and technological ambition, according to sister publication Technology Magazine

8 executive moves to crypto – from mainstream to startup

Technology & AI

Digital Twins tech ‘missing link’ in urban decarbonisation

Technology & AI

The Metaverse Foundry from Infosys is a business playground

Technology & AI