Bombardier Inc said on Tuesday it will sell its money-losing regional jet busine...
- Bombardier Inc said on Tuesday it will sell its money-losing regional jet business to Japan’s Mitsubishi Heavy Industries Ltd for $550 million in cash, in a deal marking the Canadian plane and train maker’s exit from commercial aviation.
The deal, which Bombardier said was completed at 6:30 a.m. ET on Tuesday, is expected to close in the first half of next year. Bombardier will continue to assemble its regional jet planes , but will stop making the aircraft in the second half of 2020, after it finishes delivering on its remaining backlog of 42 orders.
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