State support for CSeries

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Bombardier and UK Government have signed a Letter of Intent relating to the development of the new CSeries family of aircraft.

and

have signed a Letter of Intent (LOI) relating to the new CSeries family of aircraft. Under the LOI, the UK Government will provide a contribution of £180 million as part of an investment partnership for the development of the CSeries aircraft and the location by Bombardier of major work packages at its plant in

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The LOI is the first step that would lead to negotiating a formal agreement which would take effect if the Bombardier board decides to launch the aircraft.

The LOI establishes details of the agreement including the terms and conditions of the financial package and the extent of the work packages to be undertaken at Bombardier Aerospace's plant in Belfast. The work, which could generate up to 3,200 jobs, would comprise the development of the wings, engine nacelles and composite empennage structures for the CSeries aircraft family.

"This is a very significant milestone as we progress in our discussions with customers and risk-sharing partners before our board considers a launch decision,” said Pierre Beaudoin, President and Chief Operating Officer, Bombardier Aerospace.

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