Bombardier CEO stands by Alabama production plan after trade win over Boeing [CNBC]
Boeing Company (The) (BA)
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Source: CNBC
show chapters CEO Alain Bellemare said Bombardier still plans to move forward with an Alabama assembly line, after it escaped duties of nearly 300 percent when it won a bitter trade dispute with Boeing on Friday. In a surprise ruling, the U.S. International Trade Commission, a government agency, on Friday rejected Boeing's complaint that it was harmed by Bombardier's trade practices. Boeing had complained that Montreal-based Bombardier sold its C Series jets, which seat about 100 passengers, to Delta Air Lines below cost and received illegal Canadian government subsidies to prop up the struggling program. The ITC's panel voted 4-0 in Bombardier's favor. Over nearly a year, the dispute intensified, adding to tensions between the U.S. and Canada over cross-border trade. Last year, the U.S. Commerce Department recommended tariffs of almost 300 percent on the jets, which would make them unaffordable. In October, European aerospace company Airbus
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BA
Earnings
- 1/31/24 - Beat
BA
Sec Filings
- 4/11/24 - Form PX14A6G
- 4/8/24 - Form 3
- 4/5/24 - Form DEFA14A
- BA's page on the SEC website