Airbus, Bombardier to close C Series deal on 1st July
Airbus, Bombardier and Investissement Québec (IQ) have agreed to close the C Series transaction effective 1st July 2018.
It's official. Having received all required regulatory approvals, Airbus, Bombardier and Investissement Québec (IQ) have agreed to close the C Series transaction effective 1st July 2018. Closure had initially been targeted for the second half of the year.
The transaction by which Airbus will acquire a majority stake in the C Series Aircraft Limited Partnership (CSALP) — the entity that manufactures and sells the C Series — was announced in October 2017.
Airbus is initially acquiring a 50.01% interest in CSALP. Bombardier and Investissement Québec (IQ) will own approximately 31% and 19%, respectively. Ultimately, Airbus is expected to take full ownership of the programme.
The partnership’s head office, primary assembly line and related functions will be based in Mirabel, Québec.
Ranging from 100 to 150 seats, the C Series family will complement Airbus’ existing single-aisle aircraft portfolio (150-240 seats). The sales, marketing and support networks that Airbus brings into the venture are expected to strengthen and accelerate the C Series’ commercial momentum.
Additionally, Airbus’ supply chain expertise is expected to generate significant C Series production cost savings.
C Series production is already being ramped up, with a target of doubling output in 2018, compared with the 17 aircraft delivered last year.
The parties say they expect increased demand to support a second C Series Final Assembly Line, in Mobile, Alabama, dedicated to supplying U.S.-based customers.