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Bombardier Gives Up On Commercial Aviation

Credit: Wochit Business
Published on June 26, 2019 - Duration: 00:39s

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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Bombardier Gives Up On Commercial Aviation

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29, 2015, FILE PHOTO; MANDATORY CREDIT MANDATORY CREDIT

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