Caisse rubbishes Boeing’s claims over Bombardier subsidies

Eleanor Steed
By Eleanor Steed June 30, 2017 14:34

Caisse rubbishes Boeing’s claims over Bombardier subsidies

The chief executive of Quebec’s largest pension fund, Caisse de depot et placement du Quebec, has dismissed Boeing’s claims that Bombardier has received $1.5 billion investment in unfair subsidies as “rubbish”.

Speaking to Reuters, Michael Sabia, said: “I guess the guys at Boeing are so used to being subsidized by the defense department in the United States that they can’t understand what a subsidy is anymore because they live off them.”.

In April, Boeing asked the U.S. Commerce Department to investigate alleged subsidies and unfair pricing for Bombardier’s CSeries airplane, accusing Bombardier of having sold 75 of the planes to Delta Air Lines last year at a price well below cost.

“It is just outrageous that a company that’s subsidized by the U.S. government as Boeing is presumes to take such an action,” Caisse’s Sabia said.

Boeing has denied this and stated that the recent World Trade Organization ruling proves that assertions about subsidies to Boeing are incorrect.

Eleanor Steed
By Eleanor Steed June 30, 2017 14:34