The Quebec government is investing another $413 million in the Airbus A220 commercial jet program, formerly known as the C Series.
Quebec Premier François Legault made the announcement this afternoon at the Airbus assembly site in Mirabel, Que.
He said Airbus is investing $1.2 billion in the program, and has guaranteed that two-thirds of the jobs involved in building the jets will remain in Quebec.
The investment maintains Quebec’s 25-per-cent share in the program and postpones the government’s exit from its investment by five years, to 2035 instead of 2030.
The injection of funds follows a previous government investment of $380 million in 2022, after Airbus invested $1.1 billion.
The Quebec government funnelled $1.3 billion into Bombardier’s C series program in 2015, before it was purchased by Airbus in 2018.
The A220 jet is assembled in Mirabel and Mobile, Ala., and Airbus says it expects the program to be profitable by 2026.