Bombardier has closed the previously announced sale of the Q Series aircraft program assets to De Havilland Aircraft of Canada (formerly Longview Aircraft Company of Canada), an affiliate of Longview Aviation Capital Corp., for gross proceeds of approximately CA$300 million. Net proceeds are expected to be approximately CA$250 million after the assumption of certain liabilities, fees, and closing adjustments.
Longview will carry on the production of Q400 aircraft at the Downsview Facility in Toronto, and will continue performing aftermarket services for Q Series aircraft. Bombardier will provide transitional services and will license certain intellectual property to Longview to facilitate a seamless transition of the Q Series aircraft program.
