The Traderszone Network

Published in TZ Latest News 29 October, 2015 by The TZ Newswire Staff

Quebec’s $1 billion lifeline to Bombardier a ‘gamble on the unknown’

MONTREAL/QUEBEC CITY (Reuters) – Quebec’s $1 billion bailout for aerospace company Bombardier Inc (BBDb.TO) is meant to protect thousands of jobs in one of the province’s top industries, but risks worsening the finances of Canada’s most indebted province if it fails. The deal would give Quebec’s Liberal-run government a 49.5 percent stake in Bombardier’s troubled CSeries jet program, according to the announcement on Thursday, easing shareholder fears about the company’s future but triggering an outcry from taxpayer advocates and opposition politicians.

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