April 4 The Quebec government will offer
commercial-priced loans to purchasers of Bombardier's
made-in-Quebec CSeries plane, according to a document published
in the province's Official Gazette this week.
The document said the government would offer loans totaling
up to $1 billion, and stated that Bombardier had requested
government involvement in financing the planes.
The official decree orders Investment Quebec, a provincial
government business credit agency, to provide the financing "to
the clients of Bombardier Inc. for the purchase of CSeries
airplanes assembled in Quebec, up to a maximum cumulative amount
of US$1 billion."
Quebec said the manufacturing of airplanes was of
significant economic interest to the province.
The CSeries will be Bombardier's biggest aircraft, and it
takes the company into a new market segment, competing with
smaller jets from industry leaders Boeing Co and Airbus
The new jet is not just an engineering challenge. Bombardier
must win over customers as well, and orders have been sluggish.
As of late March, it had 148 firm orders of its targeted 300,
though that figure excludes a 32 jet commitment to Russia's
Ilyushin Finance Co that needs shareholder approval.
Bombardier said last month that it is behind schedule in
developing the plane but expects the first test flight by the
end of June.