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Bombardier concludes sale of CRJ Series regional jet program to Mitsubishi Heavy Industries

Christian Fernsby |
Bombardier confirmed the closing of the previously announced sale of the CRJ Series aircraft program to Mitsubishi Heavy Industries for a cash consideration of approximately $550 million, subject to post-closing adjustments and the assumption of liabilities by MHI related to credit and residual value guarantees and lease subsidies amounting to approximately $200 million.

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Under the agreement, the Corporation’s net beneficial interest in the Regional Aircraft Securitization Program (RASPRO), which is valued at approximately $170 million, has been transferred to MHI.

Through this sale, MHI acquires the maintenance, support, refurbishment, marketing, and sales activities for the CRJ Series aircraft, including the related services and support network located in Montréal, Québec, and Toronto, Ontario, and its service centres located in Bridgeport, West Virginia, and Tucson, Arizona, as well as the type certificates.

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