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Quebec will not invest in Bombardier's regional jet program

Christian Fernsby |
Quebec’s economy minister said on Monday his government has ruled out investing in Bombardier Inc’s weak-selling regional jet program, which could be sold to Japan’s Mitsubishi Heavy Industries.

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Economy Minister Pierre Fitzgibbon said his government is taking steps to protect jobs within the Canadian province’s aerospace sector, but he will not invest billions of taxpayer dollars to boost sales of the regional jet program which is assembled near Montreal.

The Quebec government previously invested $1 billion for a stake in Bombardier’s flagship narrowbody jet program, which is now owned by Europe’s Airbus SE.

“Is the Quebec government going to invest $2 billion in the CRJ? The answer is no,” he said, he said, referring to Bombardier’s regional jet program. He spoke in an interview on the sidelines of the Economic Forum of the Americas in Montreal.

“It’s not going to happen. It would be foolish for me to take $2 billion from Quebec taxpayers to put that in the CRJ program. But I’m working very closely with the company to make sure that we maintain this employment within aerospace.”

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