Mitsubishi to Acquire CRJ Programme from Bombardier

Mitsubishi Heavy Industries (MHI), the parent company of Mitsubishi Aircraft Corporation has entered into an agreement to acquire Bombardier’s Canadair Regional Jet programme. The agreement will see Mitsubishi pay Bombardier $550 million and assume liabilities of approximately $200 million. Mitsubishi will acquire the Canadian manufacturer’s maintenance, support, refurbishment, marketing, and sales activities for the CRJ Series aircraft which includes the related services and support network located in Montréal, Québec, Toronto, Ontario and its service centres located in Bridgeport, West Virginia, Tucson and Arizona as well as the type certificates of the CRJ aircraft. Mitsubishi will also take over Bombardier’s interest in the Regional Aircraft Securitization Programme, a financing programme which is valued at about $180 million. The deal is expected to close in the first half of next year and is subject to regulatory approval.