Airbus likely to acquire Bombardier’s remaining stake in A220 Passenger jets

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Airbus likely to acquire Bombardier’s remaining stake in A220 Passenger jets

Airbus SE, the Leiden, Netherlands-based world’s No. 1 planemaker that snatched the aviation industry crown from the US planemaker Boeing Co. last year, had been in talks to acquire Canadian business jet manufacturer Bombardier Inc.’s remaining stakes in its A220 passenger jet program, at least two industry sources familiar with the issue had unveiled on Friday, the 7th of February 2020, on condition of anonymity as the sources were not authorized to speak over issue on public.

Aside from that, latest update on European planemaker Airbus SE’s plan to acquire Bombardier’s remaining stake in A220 passenger jet came against the backdrop of a media headline revealed earlier this week that said the debt-laden Canadian manufacturer of commercial train units alongside business jets were contemplating an option to sell off its business jets unit to a US-based industrial conglomerate Textron Inc.

Nonetheless, while being asked, the Canadian business jet manufacturer, Bombardier which had been facing off a steep cash-crunch, had declined to comment over the issue that could remark the Canadian industrial conglomerate’s exit from the commercial aviation business.

Meanwhile, referring to Airbus SE’s reluctance to the acquisition deal, one of the two sources were quoted saying late on Friday (February 7th), “Airbus did not particularly want to do this at this time, but is presented with little choice if Bombardier is pulling back. ”