Bombardier Inc. completed the sale of its CRJ Series aircraft program to rival Mitsubishi Heavy Industries Ltd. for approximately $550 million, plus debt and liabilities assumption by MHI related of approximately $200 million. The sale was announced almost a year ago, as part of Bombardier's exist from the civilian aerospace sector.
The CRJ (Canadair Regional Jet) series consists of six models of twin-engine regional aircraft, for 50 to 104 passengers. Bombardier introduced the latest model last year, the 50-seat CRJ550 aircraft, with United Airlines as the launch customer. According to the OEM, more than 1,800 jets have been delivered to date.
MHI is the majority shareholder for Mitsubishi Aircraft — a joint venture with Toyota Motor Corp. and Subaru Corp. that is developing the Mitsubishi Regional Jet, a 90-seat, twin-engine aircraft that Mitsubishi HI will manufacture.
Through the sale, MHI also is acquiring the maintenance, support, refurbishment, marketing, and sales activities for the CRJ Series aircraft, including the related services and support network in Montréal, and Toronto, and service centers in Bridgeport, W.V., and Tucson, Ariz. It also is gaining the CRJ type certificates.
Bombardier will continue to supply components and spare parts and will assemble 15 CRJ aircraft remaining in its order backlog as of March 31.
Bombardier forecast it will complete the complete delivery of its current backlog in the second half of 2020.