Bombardier to sell its regional jet business to Mitsubishi

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Bombardier to sell its regional jet business to Mitsubishi

Postby Greg on Tue Jun 25, 2019 9:13 am

Canadian plane and train maker Bombardier will sell its money-losing regional jet business to Japan's Mitsubishi Heavy Industries for $550 million in cash, the companies said on Tuesday.

Montreal-based Bombardier has been selling some of its businesses and recently combined its aviation units to focus more on profitable business jets and passenger rail cars, after facing a cash-crunch in 2015 while bringing its flagship commercial jet to the market.

The company's regional jet program (CRJ) has no orders beyond 2020. Nevertheless, CRJ's profitable aftermarket sales and engineering expertise would be useful for Mitsubishi, which is trying to develop and certify its delayed regional jet program, the MRJ.

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