Ottawa gives Bombardier a $372.5-million helping hand
Bombardier has been asking Ottawa for a billion dollars since 2015, and the Feds have finally stepped up to plate 鈥� with $372.5 million in interest-free loans. The money will go towards the company鈥檚 CSeries and Global 7000 business jets.
Why so much less? Desautels professor Karl Moore says that 鈥淚t kind of quiets the critics compared to a full billion dollars,鈥� and adds that 鈥渋t鈥檚 a politically sound decision,鈥� since it鈥檚 a loan rather than a gift. Bombardier claims that it doesn鈥檛 actually need the full billion, thanks in part to better-than-expected sales of the CSeries.
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