BUSINESS

Bombardier Bailout Being Studied, Federal Liberals Say

01/07/2016 01:31 EST | Updated 01/07/2017 05:12 EST
Quebec has already pledged $1.3 billion.
LONGUEUIL, Que. — The federal economic development minister says he is continuing to examine the request for financial aid from struggling aerospace giant Bombardier Inc.

Navdeep Bains spoke to reporters near Montreal today and said there isn't a set timetable for a final decision.

Bombardier Inc. CEO Alain Bellemare asked Ottawa for money late last year.

The request came as the Quebec government pledged $1.3 billion in October to help Bombardier complete the CSeries aircraft line.

Bombardier CSeries jets


Neither party has indicated how much Bombardier is asking of Ottawa, but Prime Minister Justin Trudeau has said he would need to see a solid business plan before injecting federal cash.

Bains says the federal government is well aware of the importance of the aerospace sector — $29 billion to the Canadian economy as well as 180,000 jobs, including about 40,000 centred in the Greater Montreal Area.

But Bains reiterated today the final decision will have to be one that best respects taxpayers.