Bombardier quits commercial aviation after failing to break Boeing-Airbus stranglehold [CNN]
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Source: CNN
Bombardier quits commercial aviation after failing to break the Boeing-Airbus stranglehold The sale marks the end of an era for Montreal-based Bombardier, which has been forced to admit defeat in the face of heavy competition from the industry's entrenched duopoly, Boeing ( BA ) and Airbus ( EADSY ) . Bombardier ( BDRAF ) CEO Alain Bellemare said the deal "represents the completion of Bombardier's aerospace transformation." The company will now focus on trains and private planes. The retreat comes less than two years after European aerospace group Airbus took control of Bombardier's C Series , which made planes with up to 130 seats. That jet is now called the Airbus A220. Boeing and Airbus dominate aviation, protected from new competitors by the huge capital expense required to develop and build commercial planes. Brazil's Embraer, which like Bombardier sought to compete in the market for smaller jets, was forced to form a joint venture with Boeing in 2018. Japan's Mitsubishi
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- 4/18/24 - Form PX14A6G
- BA's page on the SEC website