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Canadian government announces $372.5 million loan to Bombardier
The federal government says it will give Bombardier $372.5 million in repayable loans over four years to support the Global 7000 and CSeries aircraft projects. Most of the money would go to the Global 7000 business aircraft program, which is scheduled to go into commercial service next year. (montrealgazette.com) More...
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The Quebec provincial government invested $1 billion late in 2015 for a 49.5% stake. I know that competing in aviation and aerospace requires government funds, but these guys had better perform and stop getting their lunch handed to them by Embraer.
Unreal...And THIS is typical of why taxes in countries where socialist policies are the rule.
Non performing businesses are subsidized by government funded by taxpayers. And for what? To keep inefficiently operated companies afloat?....If I lived in Canada, I'd be pretty upset reading about this deal.
Non performing businesses are subsidized by government funded by taxpayers. And for what? To keep inefficiently operated companies afloat?....If I lived in Canada, I'd be pretty upset reading about this deal.
What do you think is the situation for Boeing?
