Bombardier exits commercial aviation with sale of regional jet business to Mitsubishi

Credit: Reuters- Published on June 25, 2019
Bombardier Inc said on Tuesday it will sell its money-losing regional jet business to Japan's Mitsubishi Heavy Industries Ltd (MHI) for $550 million in cash, in a deal marking the Canadian plane and train maker's exit from commercial aviation.

Credit: Wochit Business
Published on June 26, 2019 -  00:39
Bombardier Gives Up On Commercial Aviation
CNN reports Bombardier has given up on commercial aviation, selling its regional jet business to Mitsubishi Heavy Industries for $550 million in cash. The sale marks the end of an era for Montreal-based Bombardier, which has been forced to admit defeat in the face of heavy competition from the industry's entrenched duopoly, Boeing and Airbus . Bombardier CEO Alain Bellemare said the deal "represents the completion of Bombardier's aerospace transformation.

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