REPORT: CSeries No Longer Canadian-Owned, Bombardier Gives Airbus Majority Stake

Despite countless taxpayer-funded bailouts sold as keeping Bombardier a strong Canadian company, a European company now has a majority stake in the CSeries program.

As a result of a deal first announced Monday evening, the CSeries is no longer Canadian-owned, as a majority stake is now held by Airbus – a European company. Airbus will own 50.01%, Bombardier 31%, and the Quebec government 19%.

This means that the Bombardier CSeries, held up as the key to the future of Canada’s aviation industry, is now a European plane.

While the deal is being heralded as a good thing by the executives of Airbus and Bombardier, it is a sad day for Canada, as we are watching more ownership of our manufacturing sector leave our country once again.

Deal adds jobs in Alabama, but no new jobs in Canada

As we would expect, the Trudeau government is trying to put a positive spin on the deal, with Minister Navdeep Bains saying, “On the surface, Bombardier’s new proposed partnership with Airbus on this aircraft would help position the CSeries for success by combining excellence in innovation with increased market access and an unrivalled global salesforce.”

Yet, the deal calls for an assembly line that will create CSeries production jobs in Alabama, but does not create any new Canadian jobs. So, it’s tough to see how Canada benefits from this in the long-run. In fact, it seems that we are watching a tacit admission by Bombardier that they were unable to defeat their competitors.

After all the bailouts and all the taxpayer money given to Bombardier, it’s terrible to see a European company take control of the CSeries. This is why Canada needs economic nationalism, and leaders willing to prioritize keeping Canadian manufacturing and Canadian industries under Canadian ownership.

It also shows the continued failure of Trudeau’s economic policies. History will record that under the Trudeau government, Canada lost ownership of the CSeries. However anyone tries to spin this, the fact is that Bombardier felt they couldn’t compete with their rivals, and submitted to them instead. Terrible.

Spencer Fernando

***

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Del
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Del

I hope the cheque was written to the Government bank account and not to the Bombardier owners. Knowing the Quebec Premier and Trudeau, neither will get a penny. All will go to friends of the government rather than taxpayers.

jack grandville
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Lucky guess, Del.

Clive Edwards
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Clive Edwards

It is a welcome wind that blows economic nationalism our way, rather than the destructive hurricanes of globalism. Thank you, Fernando, for not being a globalist. Nationalism, even on a small scale, is good. Long live the Western Block – an idea that opposes globalism in all its forms.

Glen
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Glen

Not good news at all!! Canada will soon become a part of another country!! What a pity!!

jack grandville
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Plan “A.” Glen.

Christine
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Christine

So we have to conclude that Canada probably lost money on selling to Airbus owned by Boeing. Hum the taxpayers lost money on the deal. Airbus, that reminds me of Mulroney.

jack grandville
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I thought for a moment, you meant ‘Air bag,’ Christine.

Nathan
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Typical for the Trudeau regime. I call Trudeau the Anti-Trump. While Trump is fixing his country, Trudeau is systematically destroying his. These are dark days for Canada.

jack grandville
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And again, Nathan, Plan “A.”

Michael Gordon
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Michael Gordon

This hurts from the perspective of national pride and the desire to have a strong aviation industry. Canada has tried many times to develop the industry. In fact Bombardier itself, is the product of failed attempts. Remember Canadair, many millions of government dollars lost. Remember DeHavilland, many millions of government dollars lost. Bombardier did a good job for a while but eventually ran behind the competition, especially from Brazil. Canada has always had a poor record at attracting investment, especially from Canadians but also from foreign investors. This problem can be found in the forest products, mining, oil and gas… Read more »