Bombardier (BBA, Montréal Trudeau) has announced it will sell its entire Q-Series production line to an affiliate of fellow Canadian manufacturer Viking Air (VKN, Victoria Int'l).
Bombardier said in a quarterly earnings report that it had entered into a definitive agreement with Viking's parent firm, Longview Aviation Capital Corp., on Thursday, November 7.
The sale covers all assets and intellectual property and Type Certificates associated with the Dash 8 Series 100, 200, and 300 as well as the Q400 program operations at Bombardier's Toronto Downsview manufacturing facility in Ontario, Canada. Also included are aftermarket operations as well as rights to the De Havilland Canada name and trademark.
The transfer of the Type Certificates thus establishes Longview as the Original Equipment Manufacturer (OEM) and gives it the exclusive right to re-start production for the Dash 8-100, Dash 8-200, and Dash 8-300 lines.
Overall, net proceeds of the sale are expected to be approximately CAD250 million Canadian dollars (USD191 million).
The transaction is expected to close by...
