Bombardier "Couldn't Afford" CSeries Alone, Admits CEO Alain Bellemare
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February 18, 2020 - by ici.radio-canada.ca
The boss of Bombardier, Alain Bellemare, admits that he did not expect, when he arrived in the company, to have to sell back-to-back his subsidiary Transport and its activities in commercial aircraft.
The challenge was greater, a large debt that has grown over time , he explained on Live with Patrice Roy on Monday, a few hours after the official announcement of the $ 8.2 billion transaction. American dollars which sees Bombardier sell its railway division to the French giant Alstom.
On the reasons that led Bombardier to largely dismantle, Mr. Bellemare explained that the CSeries was a daring project . It is a spectacular aircraft that will be successful, we will protect jobs for years to come. But it is a program that cost us $ 7 billion, a very heavy burden on our debt , he continued.
He added that the company was dragging aging programs like the Q400, the CRJ, programs that were...
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