The Americas

Canadian to give hundreds of millions in loans to Bombardier

The Canadian government says it will give Bombardier $372.5 million Canadian (US$285 million) in repayable loans over four years to support two aircraft projects.

The plane maker has been appealing for US$1 billion in federal assistance since late 2015. The federal money will support the company's Global 7000 and CSeries programs.

Last year, the company received a US$1 billion investment for the CSeries passenger jet from the Quebec government in exchange for a 49.5 percent stake.

The CSeries, which entered commercial service last year, was mired in delays and cost overruns. As of late November, Bombardier had received at least 360 firm orders for the jets.