Bombardier Inc. has announced that it will be selling its rail-building unit to the French-based Alstom SA. The sale marks Bombardier’s departure from the rail business.
The Trudeau government has said that they will not revoke $372 million they gave to Bombardier, even after they said they’re leaving commercial aviation.
Bombardier has lost US$1.6 billion according to a report of 2019. The aerospace company announced that it will be leaving the commercial aviation business.
Bombardier’s relationship with the free market paid negative dividends to Canadian taxpayers and workers again last week, as the company announced a first round of 550 layoffs at its Thunder Bay, Ontario train assembly plant for later this fall.
Bombardier Inc. could be the second major company after SNC-Lavalin to face a ban from the World Bank.
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