Airbus' Newly-Acquired C Series Jets to be Manufactured in Mobile

Bombardier's Q400 competes with planes made by ATR which is owned by Airbus and Leonardo SpA

On Sunday, Bloomberg reported that Bombardier was considering disposal of aerospace assets including its Q400 turboprop and CRJ regional-jet unit, while looking at partnerships with other aerospace companies, with Airbus among the prospective buyers.

The deal comes amid a trade dispute with US rival Boeing Co over the C-Series jet.

DUP leader Arlene Foster described it as "incredibly significant news for Bombardier, Belfast and Northern Ireland".

About 1,000 jobs are linked to the C-Series, the wings of which are made at a purpose-built factory in Belfast.

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Mr Clark said the United Kingdom and Canadian governments had been working to "safeguard jobs and manufacturing at Bombardier Shorts in Belfast, and the supply chain across the UK".

The C Series had come under attack this year from Boeing, which alleged that Bombardier had sold the 100 to 150-seat jet to Delta Air Lines at "absurdly low prices". The C Series, with its state-of-the-art design and great economics, is a great fit with our existing single-aisle aircraft family and rapidly extends our product offering into a fast growing market sector.

"I have no doubt that our partnership with Bombardier will boost sales and the value of this program enormously".

Bombardier will own 31 per cent and the Quebec government's investment agency will hold 19 per cent.

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"This was the right time for both companies to strike a deal over an aircraft that is fully certified", Enders said during a trans-Atlantic conference call Tuesday night with reporters and Bombardier CEO Alain Bellemare.

Airbus's chief executive, Tom Enders, said in a statement: "This is a win-win for everybody".

The C Series primary assembly line and the partnership's headquarters will remain in Quebec. The deal also provides Airbus warrants exercisable to acquire up to 100m Class B Shares of Bombardier, the companies said.

There will be no cash contribution by any of the partners, nor will CSALP assume any financial debt, they said.

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