MONTREAL—The federal government says it will provide $372.5 million in interest-free loans to Bombardier, a move that elicited criticism even though it is far less than the transportation giant originally sought more than a year ago.
The money will be handed out in instalments over four years to support the Global 7000 and CSeries aircraft projects, the government said.
Several federal cabinet ministers made the announcement Tuesday, Feb. 7, at a Bombardier facility in Montreal.
“The CSeries is an extraordinary plane,” Transport Minister Marc Garneau told a news conference.
“It started out on a piece of paper and then became the best plane in the world in its class. This is something we should all be proud about.”
We can now think to the future.
, CEO, Bombardier
