Airbus and Bombardier are finalising their alliance at the end of may


© Reuters. AIRBUS AND BOMBARDIER ARE FINALISING THEIR ALLIANCE AT THE END OF MAY

(Reuters) – Airbus (PA:AIR) and Bombardier (TO:BBDb) expect to finalize their agreement on an acquisition of a majority stake in european aircraft manufacturer in the CSeries program by the end of may, ahead of the schedule originally adopted, were told two sources close to the matter to Reuters.

Completion anticipated would speed up orders and cost reduction efforts, have they explained. A third source confirmed that the conclusion of the agreement, initially expected by the end of 2018, and then in the middle of the year, was now “very close.”

The procedure for obtaining permissions is virtually sealed, they said.

A spokesman of Airbus was referred to a statement by Tom Enders, executive chairman of the group, which said this month wait for a conclusion of the agreement” by the middle of the year.” No comment could be obtained in the immediate future with Bombardier, based in Montreal.

Last October, Airbus has agreed to take a controlling interest in the CSeries aircraft program line Bombardier put at risk by a trade dispute with Boeing (NYSE:BA) in the United States.

The transaction will allow the european company to strengthen themselves in the segment of medium-haul flights of less than 140 seats.

(Allison Lampert in Montreal, with the contribution of Alana Wise in New York, Véronique Tison for the French service)

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