Ottawa will partner with Bombardier, minister says

[Blastor]

Ottawa will partner with Bombardier, minister says


Reuters News Agency
Thursday, October 14, 2004 - Page B5


OTTAWA -- Canada says it will be a partner for troubled aircraft manufacturer Bombardier Inc., which is seeking federal funding to help launch a new passenger jet.

Ottawa said last week that it intended to provide its aerospace industry with the necessary funds to compete globally because it considers the sector to be strategic.

Montreal-based Bombardier says it needs a total of $2-billion to launch the proposed jet, with the money coming from its own coffers, federal and provincial governments and supplier groups.

Company executives say the new aircraft could be built in Northern Ireland or the United States if necessary.

Asked if the government would aid Bombardier, federal Transport Minister Jean Lapierre told reporters he had new discussions with the company yesterday.

"It is clear that the government of Canada will be a partner, and that we will not let Bombardier leave [Canada] without doing everything humanly possible," he said.

Bombardier said last week that it would cut 2,000 jobs at its aerospace division and that the unit would post a loss this year amid sagging demand.

Mr. Lapierre also said he was annoyed that Montreal-based Air Canada had decided to buy planes from Brazil's Embraer SA rather than from Bombardier.

The airline announced last month that it was buying 45 jets from the Brazilian manufacturer.

Bombardier's class B shares closed up 11 cents to $2.81
yesterday on the Toronto Stock Exchange.

[Yoyoma]

It seems that my previous comments on Bombardier were dead on...It was just a strategy to get the Gov's sympathy! Let the show begin!

[KKboy]

I am confused.
When did Bombardier's special arrangement/parnership with the fed's ever stop.

Goods news is Bombardier finally sold some Dash 8 equipment with the 17 firm and 12 options for Q300 and Q400 to Air New Zealand.

In any case every country with an aerospace sector is doing it.

[Yoyoma]

I am confused.
When did Bombardier's special arrangement/parnership with the fed's ever stop.

Every programme is independent...You don't fund a company but a specific programme!

[Blastor]

Yup! Gov hand-outs.

Just like what they do to the Ontario Automotive Industry.

[Swamp Donkey]

And it also helps to be based in Quebec.

[tsgas]

Or to be a Native owned company where the funds are unlimited and the accounting rules go by the wayside.

[LT]

Yup! Gov hand-outs.

Just like what they do to the Ontario Automotive Industry.

ROFL, dumping 250 million into the construction of a new plant isn't what I would call a hand out.

It's just called your local liberals buying votes..

[KKboy]

Think back and tell me one Bombardier project that did not get federal funding.