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Airbus, Bombardier and
Investissement Québec agree
closing of C Series Partnership Any excess shortfall during such peri- success. Airbus’ unmatched global
ods will be shared proportionately scale, strong customer relationships
Jay Menon amongst CSALP’s Class A sharehold- and operational expertise are neces-
ers. Airbus will consolidate CSALP sary ingredients for unleashing the
aving received all required
Hregulatory approvals, Airbus, effective from July 1, 2018 onwards. full value of the aircraft. Together, we
Bombardier and Investissement Further financial information on the will create tremendous new value and
Québec (IQ) have agreed to close transaction will be provided later this opportunities for airlines, suppliers,
the C Series transaction effective year. shareholders and employees.”
on July 1, 2018. The transaction by The C series program continues to “By combining the world’s most
which Airbus will acquire a majority ramp up. Having delivered 17 aircraft innovative and efficient aerospace
stake in the C Series Aircraft Limited in 2017, it is gearing up to double its technology – designed and engi-
Partnership (CSALP) was initially deliveries in 2018. neered in Québec – with Airbus’
announced in October 2017. The With the C Series’ demonstrated market and expertise, we are cre-
Mirabel-based partnership, which in-service performance and the final- ating a brand new dynamic in a
was originally established between ization of this partnership, the parties promising segment,” noted Québec’s
Bombardier and IQ, will benefit from expect increased demand to support Deputy Premier, Minister of Economy,
Airbus’ global reach, scale, procure- a second C Series Final Assembly Science and Innovation and Minister
ment organization and expertise in Line in Mobile, Alabama, dedicated responsible for the Digital Strategy
selling, marketing and producing to supplying U.S.-based customers. Dominique Anglade. “Above all, we
the C Series – a state-of-the-art jet The C Series is positioned to capture are ensuring the growth of the C
aircraft family in the 100-150 seat a large percentage of the estimated Series and securing the more than
market. 6,000 aircraft needed in this market 2,000 jobs attached to it in Mirabel. In
Airbus will work with its partners segment over the next 20 years. addition to maintaining the C Series’
Bombardier and IQ to fully unlock Airbus Chief Executive Officer head office, engineering and R&D
the C Series’ potential and create Tom Enders said: “This partnership activities in Québec, this partner-
significant new value for customers, extends our commitment to Québec ship positions Montréal as Airbus’
suppliers, employees, shareholders and to all of Canadian aerospace, largest research and development
and the communities in which the and we are very glad to welcome so centre outside Europe, representing
partnership operates. The partner- many C Series teammates into the tremendous opportunities for our
ship’s head office, primary assembly extended Team Airbus. The strength entire aerospace industry.”
line and related functions will be of the entire Airbus organization will “The C Series team in Québec is
based in Mirabel, Québec. be behind the C Series. Not only will proud to participate in this opportunity
As previously announced, Bombardier that enable this outstanding aircraft to drive the success of this amazing
will continue with its current fund- to fulfill its market potential, but we aircraft,” said Philippe Balducchi,
ing plan of CSALP. Due to the early are convinced the addition of the C CEO of the C Series partnership.
closing of the partnership, the terms Series to our overall aircraft product “Our teams have worked tirelessly to
of the plan has been updated and offering brings significant value to merge cultures and bring operations
Bombardier will fund the cash short- Airbus, our customers and share- together well ahead of schedule and
falls of CSALP, if required, during the holders.” are confident in our ability to make
second half of 2018, up to a maximum “This marks the beginning of a very this win-win partnership a thriving
of US$225 million; during 2019, up to exciting new chapter for the C Series commercial success. The composi-
a maximum of US$350 million; and and the Canadian Aerospace indus- tion of the C Series leadership team
up to a maximum aggregate amount try,” said Alain Bellemare, Bombardier reflects our principles of bringing
of US$350 million over the follow- President and Chief Executive Officer. together the best talent that both
ing two years, in consideration for “The C Series is widely recognized sides have to offer. We are ready to
non-voting participating shares of as the most advanced and efficient turn outward and help our customers
CSALP with cumulative annual divi- aircraft in its class and this part- get their hands on the hottest aircraft
dends of 2%. nership will ensure its commercial in its segment.”
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