Canada Mulls Bombardier Request For Aid To Build New Jet

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Canada Mulls Bombardier Request For Aid To Build New Jet



Tuesday October 12, 5:11 PM EDT


OTTAWA -(Dow Jones)- The Canadian government has yet to extend an aid package to Bombardier Inc. (BBD.B.T) to build its new regional jet and is looking at what competitor countries are offering to lure manufacturing offshore, Transport Minister Jean Lapierre said Tuesday.

He reiterated that the airline industry can't survive only on private funding.

"It's still early because we're just looking at all the scenarios. But obviously we're going to pay great attention to all the requests by Bombardier because Canada can't afford to lose Bombardier, (a) world leader in (the) aerospace industry," Lapierre said after question period in Parliament.

He noted that Ireland and three U.S. states "are really going after them ( Bombardier)."

Lapierre said Bombardier's competitors, Boeing Co. (BA), Airbus (ABI.YY) and Brazil's Embraer (ERJ), are all supported by their governments.

"I don't think an industry like that can be alone just using private sector financing, that doesn't work," he said. "No aerospace industry in the world can be self-sufficient."


Roger
EWROPS

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