Despite countless taxpayer-funded bailouts sold as keeping Bombardier a strong Canadian company, a European company now has a majority stake in the CSeries program.
As a result of a deal first announced Monday evening, the CSeries is no longer Canadian-owned, as a majority stake is now held by Airbus – a European company. Airbus will own 50.01%, Bombardier 31%, and the Quebec government 19%.
This means that the Bombardier CSeries, held up as the key to the future of Canada’s aviation industry, is now a European plane.
While the deal is being heralded as a good thing by the executives of Airbus and Bombardier, it is a sad day for Canada, as we are watching more ownership of our manufacturing sector leave our country once again.
Deal adds jobs in Alabama, but no new jobs in Canada
As we would expect, the Trudeau government is trying to put a positive spin on the deal, with Minister Navdeep Bains saying, “On the surface, Bombardier’s new proposed partnership with Airbus on this aircraft would help position the CSeries for success by combining excellence in innovation with increased market access and an unrivalled global salesforce.”
Yet, the deal calls for an assembly line that will create CSeries production jobs in Alabama, but does not create any new Canadian jobs. So, it’s tough to see how Canada benefits from this in the long-run. In fact, it seems that we are watching a tacit admission by Bombardier that they were unable to defeat their competitors.
After all the bailouts and all the taxpayer money given to Bombardier, it’s terrible to see a European company take control of the CSeries. This is why Canada needs economic nationalism, and leaders willing to prioritize keeping Canadian manufacturing and Canadian industries under Canadian ownership.
It also shows the continued failure of Trudeau’s economic policies. History will record that under the Trudeau government, Canada lost ownership of the CSeries. However anyone tries to spin this, the fact is that Bombardier felt they couldn’t compete with their rivals, and submitted to them instead. Terrible.
The elites want to hide their many failures behind political correctness, deception, and manipulation. We need to push back and spread the truth.
That’s why I write.
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