Video

Bombardier Gives Up On Commercial Aviation

Bombardier Gives Up On Commercial Aviation
CNN reports Bombardier has given up on commercial aviation, selling its regional jet business to Mitsubishi Heavy Industries for $550 million in cash.The sale marks the end of an era for Montreal-based Bombardier, which has been forced to admit defeat in the face of heavy competition from the industry's entrenched duopoly, Boeing and Airbus . Bombardier CEO Alain Bellemare said the deal "represents the completion of Bombardier's aerospace transformation.