Arab Today, arab today ottawa nixes airport expansion in blow to bombardier
Last Updated : GMT 08:08:21
Arab Today, arab today
Arab Today, arab today

Ottawa nixes airport expansion in blow to Bombardier

Arab Today, arab today

Arab Today, arab today Ottawa nixes airport expansion in blow to Bombardier

Regional carrier Porter Airlines
Ottawa - AFP

Bombardier shares dipped Friday after Canada's transport minister nixed plans for a small Toronto airport's expansion, which would have earned the manufacturer billions in new jetliners.

Regional carrier Porter Airlines had been lobbying since 2013 for extension of the runway at the Billy Bishop airport in order to accommodate new Bombardier CSeries jetliners.

Transport Minister Marc Garneau said Ottawa would not reconsider the agreement with the city of Toronto and port authority which restricts takeoffs and landings to small turboprop aircrafts at the downtown airport located on an island.

"We will not re-open tripartite agreement for YTZ," he said in a Twitter message late Thursday, using the world airport code for the landing strip.

Bombardier shares fell almost five percent in morning trading to Can$1.32 following the announcement.

The expansion would have allowed Porter Airlines, the airport's main user, to fly to more destinations in North America.

Porter signed a tentative agreement with Bombardier in 2013 for up to 30 CS100 passenger jets for US$2.08 billion.

However, that deal is dead if the runway is not extended by 168 meters into water at each end to accommodate the larger 107-seat aircrafts.

The airport expansion proposal had drawn sharp opposition from nearby waterfront residents who feared increased air traffic noise.

Ottawa, meanwhile, has not yet announced whether it will provide Bombardier with financial assistance to carry it through the expensive development of the CSeries jets, which are to go head-to-head with the workhorses of the aviation industry, Boeing's 737 and Airbus's A320.

The project is over budget and two years behind schedule, and Quebec province last month injected US$1 billion into Bombardier to help it get the planes off the ground. They are currently scheduled to enter commercial service and carry their first passengers for Lufthansa subsidiary Swiss in the middle of next year.

Prime Minister Justin Trudeau said Thursday "we're still in the process of trying to decide whether or not there's a strong business case" for a government loan or investment in the company.

Innovation, Science and Economic Development Minister Navdeep Bains is likely to make a decision in the coming week, a government spokesman told AFP.

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today ottawa nixes airport expansion in blow to bombardier Arab Today, arab today ottawa nixes airport expansion in blow to bombardier

 



Arab Today, arab today
Arab Today, arab today Jordan airline suggests flyers 'talk'

GMT 11:59 2017 Friday ,24 March

Jordan airline suggests flyers 'talk'
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Rebel supporters flood Yemen streets

GMT 06:39 2017 Monday ,27 March

Rebel supporters flood Yemen streets
Arab Today, arab today Media host gives priority to problems of people

GMT 07:00 2017 Tuesday ,28 March

Media host gives priority to problems of people
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemen children dream of school

GMT 07:25 2017 Friday ,24 March

Yemen children dream of school
Arab Today, arab today Trump to roll back Obama clean power plan

GMT 11:10 2017 Monday ,27 March

Trump to roll back Obama clean power plan
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Uber grounds self-driving cars

GMT 09:11 2017 Monday ,27 March

Uber grounds self-driving cars
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Salvage of South Korea's Sewol ferry

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry

GMT 09:58 2017 Saturday ,25 March

Nermein Al Fekki films “Foxes in the Valley”

GMT 06:21 2017 Friday ,24 March

MP submits a petition to dismiss university head

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 15:25 2017 Tuesday ,21 March

2017 already marked

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 20:03 2017 Saturday ,25 March

Health expert warns from dust sensitivity

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 06:04 2017 Tuesday ,28 March

Saudi Arabia ranks 3rd globally for smartphone use

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday