Mitsubishi Heavy Industries and Bombardier have entered into a definitive agreement, whereby MHI will acquire Bombardier’s regional jet program for a cash consideration of $550 million USD and the assumption by MHI of liabilities amounting to approximately $200 million USD.
Pursuant to the agreement, MHI will acquire the maintenance, support, refurbishment, marketing, and sales activities for the CRJ Series aircraft, as well as the type certificates. This acquisition is complementary to MHI’s existing commercial aircraft business, in particular the support of the Mitsubishi SpaceJet commercial aircraft family.
“With our aerospace transformation now behind us, our focus is on two strong growth pillars: Bombardier Transportation, our global rail business, and Bombardier Aviation, a world-class business jet franchise”, said Alain Bellemare, President and CEO, Bombardier Inc. Weeks ago Bombardier sold the Dash 8 programme to Canada's Longview Aviation Capital, owner of Viking Air, for $300 million. Bombardier's shift away from commercial aviation began with its mid-2018 divestiture of CSeries – now the A220 – to Airbus.
Bombardier will continue to supply components and spare parts and will assemble the current CRJ backlog on behalf of MHI. CRJ production is expected to conclude in the second half of 2020, following the delivery of the current backlog of aircraft.