Newspaper article The Canadian Press

Quebec on Track to Finalize US$1 Billion CSeries Funding Deal, Says Premier

Newspaper article The Canadian Press

Quebec on Track to Finalize US$1 Billion CSeries Funding Deal, Says Premier

Article excerpt

Quebec approaching final CSeries deal

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MONTREAL - Premier Philippe Couillard says Quebec is on track to finalize its US$1 billion investment in Bombardier's CSeries program soon.

The premier says the situation is progressing well and a deal should be in place by the end of the month.

Couillard says the government's goal is to finalize the deal for June 30 but adds it won't be a problem if the final text isn't completed until the Farnborough Air Show that gets underway July 11.

A deal would allow the government to make its first US$500-million payment, which has been delayed since April 1.

Bombardier (TSX:BBD.B) has a lot riding on the success of the CSeries aircraft, which is two years behind schedule and has incurred about US$2 billion in cost overruns.

The first planes are slated to enter into service with Swiss Airlines in July. …

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