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Bombardier spent $6 billion developing the CSeries. Airbus got it for $1.

October 19, 2017

HORRIBLE DEAL: Bombardier Got Just $1 DOLLAR For Giving Up CSeries To Airbus

 

Bombardier spent $6 billion developing the CSeries. Airbus got it for $1.

 

As if it’s not bad enough that Canada lost control of the CSeries jet – after years of Canadian taxpayers keeping it alive with bailouts – we now know how much Airbus paid for the majority stake.

 

$1

 

That’s it.

 

After spending $6 billion developing it, Bombardier let a competitor take majority ownership of their best plane for just $1.

 

And that’s not even the worst of it.

 

Airbus also has an option to take control of 100% of the CSeries down the road.

 

So, Canadian taxpayers basically spent billions of dollars funding the research and development of the CSeries, only for Airbus to scoop it up for free.

 

To add insult to injury, the only new jobs being created as a result of the deal are in Alabama, even though that’s no guarantee that the CSeries will be able to avoid tariffs in the US.

 

Brutal…

 

Spencer Fernando

 

LINK TO ORIGINAL ARTICLE: 

https://www.spencerfernando.com/2017/10/18/horrible-deal-bombardier-got-just-1-dollar-giving-cseries-airbus/

 

 

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