Canada has not yet approved the aid of Quebec Bombardier in the amount of $1 billion


Moscow. November 11. The government of Canada without the enthusiastic reaction to the idea of Quebec authorities to allocate $1 billion aircraft group Bombardier for the salvation of the programme of production of the CSeries aircraft, writes The Wall Street Journal.

Alleged support of Bombardier, the headquarters of which is located in the capital of Quebec, Montreal is the most significant in North America since the financial crisis and recession of 2008-2009.

The provincial government plans to monitor 49.5% of troubled CSeries program, implemented with a significant delay and great additional expense. Also Quebec will purchase 200 million shares of Bombardier. The province expects a significant contribution from the Federal government.

However, the government is in no hurry to help. For the intervention of Federal authorities “require a strong business case,” said the new Prime Minister of Canada Justin Trudeau in a closed working meeting of the Canadian Congress of the largest trade associations in the country.

For the collapse of Quebec Bombardier will have devastating consequences: the company provides over 40 thousand jobs in the province, and it is process industry – the segment, which in recent years has lost jobs. The unemployment rate in Quebec city is 7.7%, while the average in Canada is 7%.