There was a time when, if the going got tough for Bombardier, it could count on a helping hand from the Quebec government. Those days might be over.
Bombardier is in debt, big time, to the tune of almost $10 billion US, according to an estimate from September. Last month, the company issued a profit warning, with analysts projecting that cash flow would be weak for the foreseeable future.
As its share price plummeted, a report emerged this week that Bombardier is looking at selling its business-jet unit.
It was already trying to get a decent price for its train division and was considering dropping out of the mid-range jet program it spent more than a decade developing.