Quebec Government and Airbus boost A220 development with $1.2B investment
Plant Magazine
Business Operations Economy Industry Aerospace Government Manufacturing aerospace airbus canada Canada Economy government manufacturing QuebecThe investment is intended to support the development and enhancement of the A220 aircraft, which is the only commercial aircraft programme to be piloted outside of Europe.
Airbus and the Government of Quebec are investing a combined US$1.2 billion in Airbus Canada and extending their partnership until 2035. The investment is intended to support the development and enhancement of the A220 aircraft, which is the only commercial aircraft programme to be piloted outside of Europe.
The announcement was made at a press conference held on July 23 at the A220 site in Mirabel, Quebec, attended by Premier François Legault, Economy Minister Pierre Fitzgibbon, and other regional officials.
“By extending our partnership with Airbus to accelerate activities around the development of the A220 aircraft, we are securing key jobs in the Mirabel region for years to come,” Fitzgibbon said.
In proportion to their respective share ownership, Airbus, which owns 75 per cent of Airbus Canada, will contribute up to US$900 million, while the Government of Quebec, holding a 25 per cent stake, will invest up to US$300 million through Investissement Québec,
Additionally, the partners agreed to extend the Government of Quebec’s equity redemption date from 2030 to 2035, allowing more time for Airbus Canada to advance the A220 program and meet its goal of delivering 14 aircraft per month by 2026.
“Since Airbus joined the partnership with the Government of Quebec in 2018, we have made a considerable investment in the A220 programme, in order to give this aircraft all the industrial fundamentals, processes and skills that will ensure all the success it deserves,” said Benoît Schultz, CEO of Airbus Canada.
“We strongly believe in the future of the A220, one of the most technologically advanced aircraft, which is already recognized by airlines for its economic performance and reduced carbon footprint, and is also a favourite with passengers because of its innovative cabin design. Quebec has an outstanding labour force and aerospace ecosystem, and therefore has everything needed to ensure the full potential of the A220 programme,” said Schultz.
