The federal government will give Bombardier $372 million in repayable loans, according to a source who requested anonymity because they weren’t authorized to speak on the matter.
Several cabinet ministers including Innovation Minister Navdeep Bains and Transport Minister Marc Garneau have scheduled a news conference at a Bombardier facility in Montreal at 6:30 p.m. ET.
Bombardier (TSX:BBD.B) has been appealing for US$1 billion in federal assistance since late 2015.
The Quebec government provided a US$1-billion lifeline last year for Bombardier’s CSeries jet, which was mired in delays and cost overruns.
The company has received at least 360 firm orders for the CSeries jets as of late November.
Source:
http://montrealgazette.com/business/ottawa-to-announce-bombardier-investment