Bombardier has issued a statement following reports that it is in advanced talks with Mitsubishi Heavy Industries to sell its CRJ regional aircraft program, for an undisclosed sum.
The statement said: "Bombardier has recently stated it would explore strategic options for the CRJ Program. From time to time, this may lead to discussions with potential counterparties. While Bombardier does not generally comment publicly on market speculation or rumours, in light of recent media reports, Bombardier believes it is prudent to advise stakeholders that it is in discussions with Mitsubishi Heavy Industries with respect to its CRJ Program.
"We will not further comment on the nature of the discussions. Before any agreement can be reached further review and analysis by Bombardier management and approval by Bombardier's Board of Directors are required, and Mitsubishi Heavy Industries, must complete its due diligence review and own analysis and approval process, which are outside of Bombardier's control. There can be no assurance that any such discussions will ultimately lead to an agreement."
Approval for the deal is subject to completed due diligence.
Separately, Mitsubishi Heavy Industries issued a statement confirming that it was holding “discussions relating to a possible transaction involving Bombardier’s regional jet program with strict adherence to the applicable competition rules and regulations”.
It’s rumoured than an announcement could come during the 2019 Paris Air Show.