Aerospace company Bombardier asks federal government for financial assistance

Aerospace company Bombardier asks federal government for financial assistance

MONTREAL — Struggling aerospace giant Bombardier Inc. is asking the federal government for financial help.

Federal Economic Development Minister Navdeep Bains said today he has received an official request for assistance from the company that included a specific dollar figure.

Bains didn’t offer details but said his government is studying the request made by Bombardier (TSX:BBD.B) chief executive Alain Bellemare.

The Quebec government pledged $1.3 billion in October to help the company complete the CSeries aircraft line, which is about two years behind schedule.

Quebec Economy Minister Jacques Daoust said at the time he expected Ottawa to also help finance Bombardier, which is considered one of the most important companies in the province.

Prime Minister Justin Trudeau said last week Bombardier needed to present a solid business plan to the federal government before he would consider injecting money to help the company.

The Canadian Press

Categories: Business, News

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