Bombardier: completes sale of Q turboprop aircraft program

(CercleFinance.com) - Bombardier has completed the sale of its Q turboprop aircraft program to Canadian aerospace group Longview, the group said on Monday.


The Montreal-based planemaker today confirmed the closing of the sale of its Q Series aircraft program assets to De Havilland Aircraft of Canada, a division of Longview, for gross proceeds of approximately 300 million dollars.

After the assumption of certain liabilities, fees, and closing adjustments, net proceeds are expected to be approximately 250 million dollars, Bombardier said.

Longview will make Q400 aircraft at the Downsview Facility in Toronto, and will continue performing aftermarket services for Q Series aircraft.

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