Canadian to give hundreds of millions in loans to Bombardier
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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.
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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.