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Airbus Increases Ownership Of Alabama-Built Jet To 75%

| February 15, 2020 @ 10:00 am

By Charlotte Ryan
Bloomberg

Airbus SE increased its stake in the A220 jetliner to 75%, consolidating control of the narrow-body model as debt-laden Bombardier Inc. exits the program to preserve cash.

Airbus, which previously held about 50% of the venture, will pay $591 million to the Canadian firm. The government of Quebec lifted its share to 25%, the companies said Thursday. The A220 will be produced in Mobile along with the Airbus A320 family of airplanes.

“Here in Mobile nothing changes: we are continuing to hire for our A220 and A320 programs, are on track for our first A220 delivery from Mobile in Q3 of this year, and on track for reaching rate four (producing four a month) in the A220 program by the middle of the decade,” said Kristi Tucker, director of communications for Airbus in Mobile.

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