Mitsubishi Heavy Industries Completes Acquisition Of Bombardier CRJ Series

Bombardier and Mitsubishi Heavy Industries announced June 1 they’ve completed a roughly $550 million deal under which MHI assumes service and support of the CRJ Series program of regional commercial aircraft. (Photo courtesy of Bombardier.)

Bombardier and Mitsubishi Heavy Industries (MHI) have completed a roughly $550 million deal announced in June 2019. MHI now assumes maintenance, support, refurbishment, marketing, and sales duties for the Bombardier CRJ Series regional jet program. Bombardier will complete assembly of 15 CRJ (Canadair Regional Jet) aircraft in its backlog as of March 31, 2020, and continue to supply components and spare parts until the backlog is completely delivered.

The Revolutionary Regional Jet

The CRJ series is billed as the aircraft “that started the regional jet revolution.” Current aircraft include the CRJ550, CRJ700, CRJ900, and CRJ1000 ranging from 50 to 104 seats and from 1,000- to 1,650-nautical-mile (1,852- to 3,055.8-kilometer) flight ranges.

Last June, MHI launched the MHI RJ Aviation Group to provide the CRJ program service and support. Under the terms of this deal, MHI now oversees type certificates as well as service and support at network facilities in Canada and U.S. service centers. The deal is subject to post-closing adjustments and MHI assuming about $200 million in liabilities. Bombardier will also transfer net beneficial interest in its Regional Aircraft Securitization Program valued at about $170 million.

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Source: Bombardier

Posted On: 6/1/2020 10:28:21 AM