Series C: Jacques Daoust account request financial support from Ottawa

ministre-economie-jacques-daoustThe Minister of Economy of Quebec, Jacques Daoust, suggested that Quebec intends to ask Ottawa to invest one billion US dollars in the program for the Bombardier C Series, in what the agency reported Friday Bloomberg.

According to Bloomberg, Mr. Daoust said in a telephone interview that federal assistance would complement the Series C financing plan and it would change the concept of risk.

Bombardier had announced on Thursday it would take two billion dollars over five years to the victim program cost overruns, missed deadlines and the lack of interest from the major airlines.

Mr. Daoust said want to discuss with the new federal Minister of Industry to be appointed by the Prime Minister appointed Justin Trudeau during a swearing-in ceremony on November 4.

Chrysler and GM

The Economy Minister said he believes the federal should intervene as it did with General Motors (GM) and Chrysler in 2009, during the economic crisis, comparing the Quebec aerospace industry to the automotive industry Ontario.

In exchange for its own investment of one billion dollars, the Quebec government must hold 49.5% – 50.5% against Bombardier – a limited partnership led by former premier Daniel Johnson in which will be transferred all of the assets of the commercial airplane.

The Stopru