Airbus invests in A220, extends partnership with Que. government
By DE Staff
General AerospaceAirbus and the Government of Quebec jointly invest US$1.2 billion in Airbus Canada in proportion to their respective share ownership and are extending their partnership until 2035.
Airbus holds 75 per cent of the shares in Airbus Canada, and the Government of Quebec has 25 per cent. In proportion to their respective share ownership, Airbus will invest up to US$900 million and the Government of Quebec up to US$300 million, through Investissement Québec.
“Since Airbus joined the partnership with the Government of Quebec in 2018, we have made a considerable investment in the A220 programme, in order to give this aircraft all the industrial fundamentals, processes and skills that will ensure all the success it deserves,” said Benoît Schultz, CEO of Airbus Canada. “We strongly believe in the future of the A220, one of the most technologically advanced aircraft, which is already recognized by airlines for its economic performance and reduced carbon footprint, and is also a favourite with passengers because of its innovative cabin design. Quebec has an outstanding labour force and aerospace ecosystem, and therefore has everything needed to ensure the full potential of the A220 programme.”
The agreement extends Quebec’s equity interest redemption date to 2035, allowing Airbus Canada to enhance the A220 programme, aiming for 14 monthly aircraft deliveries by 2026.
“The A220 is the fruit of Quebec genius, and we can be proud of having developed one of the best aircraft in the world,” says Pierre Fitzgibbon, Minister of Economy, Innovation and Energy, Minister Responsible for Regional Economic Development and Minister Responsible for the Metropolis and the Montreal Region.
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