The A220 has been very successful but has a long way to go to break even for Bombardier. Bombardier had already sold in 2018 a majority stake in its C Series jetliner to the world's largest airliner manufacturer, which rebranded it the A220. Now, it's the Airbus A220's turn.The Airbus A220 revolutionized aviation in 2016 when it made its commercial debut and now, three companies are looking to make it into a private jet for the ultra-wealthy.Like us on Facebook to see similar storiesAirliners turned private jets are status symbols among the elite who can afford not only the multi-million dollar price tag of the jets but the high associated operating costs. Adieu, A220. Quebec said it now plans to sell its stake to Airbus in 2026, three years later than scheduled.The deal, he added, has been structured to safeguard more than 14,000 Bombardier aeronautics jobs in Quebec.Your feedback will go directly to Tech Xplore editors.Over the past decade, Bombardier invested huge sums to develop three new aircraft, including more than US$6 billion on the A220, which would become the first new design in the 100- to 150-seat category of single-aisle aircraft in more than 25 years, and was to go head-to-head against giants Airbus and Boeing.But additional cash investments are required to ramp up production of the A220, and neither Bombardier nor Quebec were willing to pony up funds, amid forecasts of lower returns. Thursday's transaction increases Airbus's share in the A220 to 75 percent, while the Quebec government—which helped to fund its development—retains a 25-percent stake (up from 16 percent). As for FTV3, the A220-100 / CSeries CS100 (MSN 50003) that Bombardier and the people of Quebec (the only 2 shareholders of the CSeries business prior to the closing of the $0 deal with Airbus) gave to ÉNA, it will be leaving Wichita for St-Hubert Airport YHU/CYHU on October 11, 2018, weather permitting. Photo: Air Canada The history of the C-Series/A220 program Perfectly sized for this market, the A220 is the ideal complement for the A320 Family and the latest addition to Airbus’ leading single-aisle family. Bombardier had already sold in 2018 a majority stake in its C Series jetliner to the world's largest airliner manufacturer, which rebranded it the A220. The new Airbus A220 is being eyed for use as a private jet. Bombardier, Airbus‘ minor partner in the A220 program, is coming to regret the choice of selling 51% of its small jetliner program to Airbus. "This transaction supports our efforts to address our capital structure and completes our strategic exit from commercial aerospace," Bombardier chief executive Alain Bellemare said.The funds are to be used to pay down its more than US$9 billion debt.Science X Network offers the most comprehensive sci-tech news coverage on the webIts Learjet 85 program, meanwhile, was discontinued after losing US$2 billion.Heavily indebted, the Montreal-based company is also reportedly in talks to sell its rail division to France's Alstom, which would leave the former Canadian manufacturing titan to build only business jets.The A220 has been hailed by operators and travellers for its fuel savings, relatively quiet engines and cabin features.It has a range of more than 6,000 kilometres (3,730 miles) and a seating capacity between that of traditional commuter planes and Airbus' A320 family, which can seat from 180 to 240 people and which has become a workhorse on medium-range routes.According to a statement, Bombardier will receive US$591 million from Airbus for its 33.58 percent stake in the joint Airbus Canada Limited Partnership (ACLP).Medical Xpress covers all medical research advances and health newsAs part of the deal, Bombardier will be spared from having to make a US$700 million investment in the joint venture over the next year.Bombardier had already sold in 2018 a majority stake in its C Series jetliner to the world's largest airliner manufacturer, which rebranded it the A220.The company, controlled by heirs of its founder and inventor of the snowmobile in the 1940s, was looking to build on the success of its regional aircraft program in the 1990s.Since taking over the program, Airbus has secured 658 orders for the A220.Under Bellemare's stewardship, Bombardier also sold off over the past five years its water bomber, Q400 turboprop, CRJ regional jet and flight training divisions.Phys.org internet news portal provides the latest news on scienceThursday's transaction increases Airbus's share in the A220 to 75 percent, while the Quebec government—which helped to fund its development—retains a 25-percent stake (up from 16 percent).
Farewell, commercial aviation. Thursday's transaction increases Airbus's share in the A220 to 75 percent, while the Quebec government -- which helped to fund its development -- retains a 25-percent stake (up from 16 percent). But after Boeing successfully petitioned President Donald Trump's administration to impose financial penalties on Bombardier to keep it from selling its C Series planes in the massive US market, the Canadian company turned to Airbus to make use of Airbus's manufacturing heft and international reach for sales.
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