China's COMAC in talks with struggling Bombardier for cash injection

Updated 2017-05-21 12:01:12 CGTN

China's commercial aircraft manufacturer, Commercial Aircraft Corporation of China (COMAC), may be about to inject cash into Canada's Bombardier.

COMAC has held discussions with Bombardier to buy into either the company's beleaguered commercial aircraft division or its next generation C-Series airliner program, according to the Financial Times.

"Everything is on the table," a person familiar with the talks told the FT.

A plane flies over a Bombardier plant in Montreal, Quebec, Canada on January 21, 2014. /VCG Photo

However, no decision is "imminent."

Bombardier's commercial aircraft division has struggled to recover the billions of dollars invested in the development of passenger jets intended to compete against the Boeing 737 and Airbus A320 families of airliners, but without success.

The Bombardier C-Series, which has been praised for its technologies, has been hit by delays and poor sales.

Bombardier received one billion US dollars from the Quebec government for its C-Series program, and the federal government provided a 372.5 million Canadian dollar loan towards development of its Global 7000 business aircraft program, as well as the C-Series program.

The two companies are no strangers when it comes to cooperation. In March 2012, COMAC and Bombardier signed a strategic cooperation agreement, which included working together on cockpit and electrical systems, as well as the supply chain.

Earlier this month, COMAC's C919 completed its maiden flight in Shanghai. The aircraft is the first commercial passenger jet independently developed by China.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58August 21 2017 22:03:24

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16August 21 2017 22:03:24

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18August 21 2017 22:03:24

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords