Boeing Co. will take over the $4.75 billion commercial aircraft arm of Brazilian plane-maker Embraer SA as part of a new company to be controlled by the U.S. firm, the companies said on Thursday.

The Trudeau government is promising to build in safeguards to make sure this week's stunning deal between Bombardier and European rival Airbus doesn't hurt Canada's aerospace industry.

Bombardier shares were up 53 cents at $2.89 on the Toronto Stock Exchange.

European aircraft giant Airbus Group is buying a majority stake in Bombardier's CSeries program.

The government invested US$1 billion in 2016 for a 49.5 per cent stake in Bombardier's CSeries commercial jet program.

Bombardier hasn't lost yet.

Quebec's premier says the province needs to take care of Bombardier because of its unique importance to the province.

Boeing said Thursday that it petitioned the U.S. Department of Commerce and the U.S. International Trade Commission for investigations into subsidies and pricing of Bombardier's CSeries.

Shares of Bombardier were up more than four per cent Tuesday following a report that the company and German-based Siemens AG are in talks to merge their train businesses.

Party leaders claim Quebec is always the big loser in the federal system and its interests would be better served by independence.