Bombardier has confirmed the sale of the Q Series aircraft program assets to De Havilland Aircraft of Canada for approximately $300 million.
De Havilland, an affiliate of Longview Aviation Capital, will carry on the production of Q400 aircraft at the Downsview Facility in Toronto, Canada; and will continue performing aftermarket services for Q Series aircraft.
Bombardier will provide transitional services and will license certain intellectual property to Longview to facilitate a seamless transition of the Q Series aircraft program.
Net proceeds are expected to be approximately $250 million after the assumption of certain liabilities, fees, and closing adjustments.