Airbus to acquire Bombardier's remaining stake in A220 passenger jet
Europe's Airbus SE is likely to acquire Canadian plane and train maker Bombardier Inc's remaining stake in the A220 passenger jet program, two industry sources said on Friday. A deal for Airbus to buy the 33.58% share in the program was widely expected after Bombardier said in January it was reviewing the stake in the joint venture.
Barring surprises, a deal is expected next week ahead of both companies' earnings on Feb. 13, the sources added. Airbus and Bombardier both declined comment. The terms were not clear of a potential deal that would mark Bombardier's exit from commercial aviation.
The Canadian company had a cash crunch in 2015 due to its high-stakes bet on the technologically advanced jet. Bombardier shares rose 4.2% in late afternoon trade.
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