Bombardier disclosed selling its Q Series aircraft program and de Havilland trademark for $300 million.
The company said that it “entered into definitive agreements for (i) the sale of the Q Series aircraft program and de Havilland trademark to a wholly owned subsidiary of Longview Aviation Capital Corp. for approximately $300 million; and (ii) the sale of Business Aircraft’s flight and technical training activities to CAE and the monetization of royalties for approximately $800 million.”
Both transactions are expected to close by the second half of 2019, following the usual regulatory approvals. Net proceeds from the transactions are expected to be approximately $900 million after the assumption of certain liabilities, fees, and closing adjustments.
Having gave away the CSeries twinjet programme to a partnership controlled by Airbus, Bombardier has been left with the CRJ regional jet as its primary commercial air transport product.