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Qu3bec's Investment in Airbus A220 / CSeries Aircraft Has Gone From Over $1 Billion To Nothing

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Quebec government decided to writeoff their $1.6 billion investment in the bombardier cseries now under majority control of airbus. (www.fliegerfaust.com) Mais...

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Jeraboam
Jeraboam 6
Bombardier created one of the best mid size aircraft currently available and being purchased by a growing number of international airlines. It's demise is largely due to the illegal tariffs imposed by a disfunctional American president to protect the equally disfunctional Boeing corporation from any real or perceived competition. Together, they effectively destroyed Canada's aerospace industry by shutting it out of the US market and scaring off other potential buyers. The self-serving incompetence of the Bombardier family also played a major role in destroying one of the biggest and most progressiver transportation companies in the world in just a few short years.
Jeraboam
Jeraboam 4
Over the years. Bombardier employed tens of thousands of highly skilled and highly paid workers around the world including Montreal, Toronto, North Bay, Kingston, etc. These workers spent most of their earnings in Canada contributing to its wealthy economy and enriching the municipal, provincial and federal tax bases. Political and corporate mishandling has cost us many of these jobs but thousands are still employed by the new owners, building aircraft, trains, subways around the world.
Our tax money was not wasted and has been repaid in many ways.
Highflyer1950
Highflyer1950 6
Now who could have possibly seen this coming?

https://www.theglobeandmail.com/news/politics/liberals-to-decide-on-financial-assistance-for-bombardier/article27030710/
linbb
linbb 0
No the government just wasted taxpayer money on something they should never have done in good or bad times. Dumb deal cost the taxpayer not the government get it right.
aboydx3
Alex Boyd -7
It always costs the taxpayers where do you think the money comes from, but it’s the corrupt trudeau liberals who authorized the bailout.
cos3asg
cos3asg 0
If we were to add up the total amount of Federal subsidy given to this company over the years, it would water the eyes of ever reader of this thread.
aboydx3
Alex Boyd -4
Isn’t that nice the Quebec liberal government writes off $1.6 billion taxpayers dollars for nothing. Typical liberal investment, no return!
hmfcfan
Andrew Palmer 5
Quebec's current government is the CAQ not the Liberals. The $1bn investment was made in 2016, under the previous Liberal Government.
aboydx3
Alex Boyd -7
What ever it was the corrupt trudeau liberals who gave them billions and got nothing in return, typical leftwing investment.
wopri
Wolfgang Prigge 7
You seem to be quite mixed up. Trudeau is Prime Minister of Canada, the provincial government of Québec bought into the A220. Your credibility when you talk about economic policies appears to be quite low. to

[This comment has been downvoted. Show anyway.]

wopri
Wolfgang Prigge 8
Sorry chap, you are the one who is mixed up. Look at the title, it says Quebec’s investment in the A220.... As you pretend to have so much knowledge, you should also know that as long as you don’t sell your investments, losses are just on paper.

You also have no clue why the present provincial government comes out with a strange declaration like this right now. They need to deflect from their disastrous handling of the covid-19 crisis that more and more people realize.
djames225
djames225 5
No Alex. Please get your facts straight! I don't agree a lot of what the Trudeau government has done, but it did NOT give Bombardier 1 billion dollars in 2017. It invested $372 million over 4 years, in the form of a type of loan, into total Bombardier, and had nothing to do with Bombardier family, et all, giving themselves a raise. BTW, that loan is almost paid down with proceeds from the sales of the B.A.T. to CAE, the further investment and buyout by Airbus in the C-Series and final sale of the rest of DHC divestments including the Q400/Dash aircraft to Longview/Viking Air. And an independent inquiry is on-going into Bombardier executives pay schedules.

As Wolfgang pointed out, those losses are on paper. If Quebec Government uses it's head and doesn't write them off, it still has interest in the company. Everyone has lost money and investment status because of this pandemic. But they aren't running around writing off the total investment either.
rb522140
ROLAND BALCH 2
Thank you djames225
Miataracer
Bruce Stevenson 4
Alex, you are just another ignorant right wing hack who never fact checks.
Highflyer1950
Highflyer1950 -3
Maybe Airbus can give a free A-380 to Canada for getting such a good deal on the C-Series, then Justin can look to the South and say mine is bigger than yours! You know the Bombardier family will never pay back any loan given by the government?
djames225
djames225 4
It already has paid back good portions of loans, and Trudope had nada to do with major investment into C-Series.
Coalora
Coalora -4
What do they care, really? All their money comes from siphoning off Alberta's wealth anyway. It's more surprising they didn't just pay the money out and raid Western Canada's kitty one more time.

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