Industry Bombardier sells QSeries program to Viking Air
Aircraft manufacturer Bombardier has announced, that it will sell its QSeries aircraft program and de Havilland trademark.
In the report for the third quarter 2018, the manufacturer stated that it has entered into a definite agreement with a wholly owned subsidiary of the Longview Aviation Capital Corporation over the sale of the Q Series aircraft program and the de Havilland trademark.
Viking Air is most likely to become the new owner of the programme. According to Bombardier, the deal was worth approximately US$ 300 million. Bombardier hopes to have the transaction finalized by the second half of 2019, following regulatory approvals.
Manufacturer Viking Air is a subsidiary of the Longview Aviation Capital Corporation and purchased aircraft Type Certificates of the de Havilland DHC-1 to DHC-7 series back from Bombardier in 2006. Since 2008, Viking Air is producing its own version of the DHC-6 Twin Otter.
The new purchase agreement includes all assets and Type Certificates associated with the Dash 8 Series 100, 200 and 300, as well as the Q400 program.
After Bombardier entered into the Airbus partnership on the CSeries program earlier this year, the company will now turn its full attention to the CRJ program. The CRJ series includes the CRJ700, the CRJ900 and the CRJ1000.
In a statement, Bombardier commented: "As we continue to actively participate in the regional aircraft market with our established, scope compliant aircraft, our focus is on reducing cost and increasing volumes while optimizing the aftermarket for the approximately 1,500 CRJ’s in service around the world today. As we look to return the CRJ to profitability, we will also explore strategic options for the program."
Additionally, Bombardier will sell its business aircraft technical training and flight unit in Montreal, Quebec City and Dallas to multinational company CAE.
Bombardier has also announced, that it will cut a total of 5,000 jobs. Half of them will be in Quebec over the next 12 to 18 months, stated the manufacturer. Altogether, these measurements will lead to US$ 250 million in annual savings.
Source © bombardier.com