Quebec invests $383 million in Airbus

Quebec invests $383 million in Airbus

The Prime Minister, François Legault./Josie Desmarais/Metro

The Government of Quebec will invest 300 million US dollars – almost 383 million Canadian dollars – in Airbus A220 aircraft. The A220 is Bombardier's former C-Series, which was sold for $1 to Airbus.

Airbus will inject 900 million US dollars, or 1.15 billion Canadian dollars. The investment will help maintain 2,500 jobs.

“The aerospace industry is strategic for Quebec. There are hundreds of companies that act as suppliers,” Prime Minister François Legault justified on Friday at the convention center. Jobs in the industry “pay very well,” Legault said, again indicating his desire to surpass Ontario's wealth level.

The agreement provides for the postponement of the option to buy back the Quebec investment by Airbus until 2028.

More details to come< /p>

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