Airbus and Quebec sign a $1.2 billion investment deal

Europe’s Airbus and Quebec on Feb. 5 said they have agreed to a $1.2 billion investment deal that would allow the Canadian province to remain in the loss-making A220 jet program until the venture is likely to turn profitable.

Airbus would invest $900 million, while Quebec would put $300 million into the program, according to a statement from the province’s government.

The investment would help the A220 program globally to support an increase in production, Benoit Schultz, chief executive of Airbus’ Canadian unit, told a press briefing. The A220 is built both at an Airbus plant in the Montreal area and at the Mobile facility in Alabama.