Yet Another Handout for Bombardier, This Time $327M
Bombardier Inc. has landed $372.5-million in federal aid, a cash infusion that will help the company’s aerospace programs but falls far short of the $1-billion it initially sought from Ottawa.
The bulk of the money, which comes in the form of a “repayable contribution,” will go toward research and development for Bombardier’s Global 7000 business jet, with additional support for the C Series program.
The company has struggled to deliver products on time, constantly needs government money and by late 2015 was, “on the brink of bankruptcy,” according to chief executive officer Alain Bellemare.
Many Canadians have taken to social media to express their displeasure in keeping the struggling company alive if it can't survive on its own.
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