Airbus and the Government of Quebec have announced a joint investment of US$1.2 billion in Airbus Canada Limited Partnership (Airbus Canada), solidifying their partnership until 2035. This significant investment reflects the commitment of both parties to the A220 aircraft program, designed and manufactured in Quebec.
The investment will be used to further industrialize the A220 program and ensure its continued success. This includes enhancing production capabilities, optimizing processes, and driving continuous improvement efforts. The A220 program is a cornerstone of Quebec’s aerospace industry, contributing significantly to the province’s economic growth and generating numerous skilled jobs.
The investment breakdown reflects the ownership shares in Airbus Canada: Airbus, with a 75% stake, will contribute up to US$900 million, while the Government of Quebec, holding a 25% share, will invest up to US$300 million through Investissement Québec.
Furthermore, the shareholders have extended the redemption date for the Government of Quebec’s equity interest from 2030 to 2035. This extension will provide Airbus Canada with additional time to enhance the value of the A220 program. The program aims to reach a production rate of 14 aircraft per month by 2026.
The announcement was made at a press conference at the A220 site in Mirabel, attended by key figures including Premier François Legault, Minister of Economy, Innovation and Energy Pierre Fitzgibbon, Minister Responsible for Regional Economic Development and the Metropolis and Montreal Region Sylvie D’Amours, and representatives from Airbus Canada.
“I am very proud to announce a new investment by our government in the Airbus A220 programme, a Quebec-designed aircraft which is the best in the world in its category. Today, we are consolidating the presence of Airbus, an aerospace giant, in a sector that creates enormous wealth for our nation. We are building a strong, prosperous and forward-looking economy in Quebec,” declared François Legault, Premier of Quebec.
“The A220 is the fruit of Quebec genius, and we can be proud of having developed one of the best aircraft in the world. By extending our partnership with Airbus to accelerate activities around the development of the A220 aircraft, we are securing key jobs in the Mirabel region for years to come,” said Pierre Fitzgibbon, Minister of Economy, Innovation and Energy, Minister Responsible for Regional Economic Development and Minister Responsible for the Metropolis and the Montreal Region.
“Since Airbus joined the partnership with the Government of Quebec in 2018, we have made a considerable investment in the A220 programme, in order to give this aircraft all the industrial fundamentals, processes and skills that will ensure all the success it deserves. We strongly believe in the future of the A220, one of the most technologically advanced aircraft, which is already recognized by airlines for its economic performance and reduced carbon footprint, and is also a favourite with passengers because of its innovative cabin design. Quebec has an outstanding labour force and aerospace ecosystem, and therefore has everything needed to ensure the full potential of the A220 programme,” expressed Benoît Schultz, CEO of Airbus Canada.
