In 2017, the Trudeau government bailed out Bombardier with a $373-million federal loan. At the same time, the Liberal government in Quebec also provided a taxpayer-funded bailout to the tune of $1 billion.
But Bombardier is anything but a winner. About 18 months after receiving bailouts and favourable loans from their friends in the Liberal party, Bombardier announced it was cutting about 5,000 jobs globally — 3,000 of them here in Canada.
This week, shares in the company dropped to an all-time low after Bombardier acknowledged its 2019 revenues failed to meet targets. The price plummeted by one-third of its value in a single day.