MONTREAL -- Quebec is expected to specify in about ten days its intentions regarding its participation in the Airbus Canada Limited Partnership (SCAC), owner of the former Bombardier C-Series, following recent calls for more funding.
In Montreal on Tuesday, Economy Minister Pierre Fitzgibbon said he was working "closely with Bombardier and Airbus," the other two partners in the A220 program, to "find solutions."
Stressing that Premier François Legault had been 'very clear' that he 'did not want' the Quebec government to inject additional funds into the program, Fitzgibbon said he was 'confident' he will be able to present a satisfactory solution for taxpayers.
When it released its results on Jan. 16, Bombardier cast doubt on its participation in the A220 by revealing that new investments were necessary in the SCAC.
The limited partnership is 50.06 per cent owned by Airbus, compared to 33.58 per cent for Bombardier and 16.36 per cent for the Quebec government, which injected $1 billion US in 2016 into the C Series program.
The call for funds places the Legault government in a delicate position since it must decide whether to inject more public funds to maintain its participation at the current threshold; otherwise, it will be diluted.
In theory, Airbus will be able to buy Bombardier's stake in the limited partnership in 2026, and it will be able to do the same with Quebec's share at the end of June 2023.
