Bombardier has been asking Ottawa for a billion dollars since 2015, and the Feds have finally stepped up to plate — with $372.5 million in interest-free loans. The money will go towards the company’s CSeries and Global 7000 business jets.
Why so much less? Desautels professor Karl Moore says that “It kind of quiets the critics compared to a full billion dollars,” and adds that “it’s a politically sound decision,” since it’s a loan rather than a gift. Bombardier claims that it doesn’t actually need the full billion, thanks in part to better-than-expected sales of the CSeries.