Friday 16 October 2015

Bombardier running out of options as family resists pressure to reduce control

Bombardier is running out of options as the Canadian aircraft maker seeks to raise the cash for the new jet that potentially would allow it to challenge the supremacy of Boeing and Airbus in global jetliner sales, according to several sources with knowledge of the situation.

The sources said for Bombardier to persuade investors to provide more capital, the Bombardier-Beaudoin family will probably have to reduce its 53% voting control of a company which was founded by snowmobile inventor Joseph-Armand Bombardier in 1942 and moved into train and plane manufacturing through acquisitions made by his son-in-law Laurent Beaudoin.

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