Bombardier receives second of two US$500 million payments from Quebec

Subsequent to Bombardier coming to an agreement with the government of Quebec, which was reported on June 23 this year, to sell a 49.5% stake in a subsidiary company created specifically for the C-Series for US$1 billion, and the first of two US$500 million payments released on the 30th June, the second payment due on the September 1, 2016 has now been made to the company.
The agreed investment by the government of Quebec was seen as instrumental in the firming up of two major orders for the current C-Series aircraft, the CS100 and CS-300, which can carry between 108 and 135 passengers. On June 28 Air Canada firmed up on an order for 45 CS-300s based on February’s letter of intent for 45 Cs-300s and 30 optional aircraft, while there has been much talk about Delta Airlines’ order for 75 C-100s in April, with options for a further 50 of the aircraft. It is alleged that the Delta deal involved a reduction of between 65% and 70% of the US$71.8 million list price in order to land a major carrier.
The first CS100 was delivered to Swiss Global Air Lines on June 29, 2016 with its revenue flight on July 15, 2016 between Zurich and Paris. The larger 135-seat CS300 aircraft was awarded its type certificate by Transport Canada on July 11, 2016, with first delivery scheduled for Q4 2016. Current firm orders for the two model types stand at 123 for the CS-100 model, and 235 for the CS-300 model.