Bombardier sells jet unit to Mitsubishi for C$724 million

As reported by Bloomberg News on June 26, after more than three decades of creating commercial aircraft, Bombardier Inc. has agreed to sell their Canadair Regional Jet (CRJ) program to Mitsubishi Heavy Industries Ltd. for C$724 million. In addition, Mitsubishi will be shouldering about C$263 million of Bombardier’s li­a­bil­ities. According to the terms of the deal, three-quarters of Bombardier’s 1,600 employees will be joining Mitsubishi’s team, while the rest will stay and continue assembling CRJ planes. Bombardier CEO Alain Bellemare previously oversaw the sale of the company’s C Series plane and a turboprop line.

Related Content