One of the most popular names in Europe aerospace & defense industry, Airbus SE, is all set to acquire a massive stake in the CSeries jet venture commenced by Bombardier Incorporation, a Canadian company partaking in the aerospace, railway, & defense sectors in Asia. According to the agreement between the firms, the former will receive 50.01% interest through the venture, while the latter would benefit through a better sales channel for its jet aircraft.  Experts apparently, have forecast that this strategic move will augment the jet sales of the Canadian firm in Asia.  

As per authentic reports, the 130-seater jet plane has not received any new order since the last one & half years and may likely be levied with nearly 300% of duty on U.S. imports. The Korean Airlines Company, apparently the sole consumer of these jets in Asia, will assume responsibility for the delivery of the first ten CS300 aircrafts, cite reports. The region has exhibited low interest in the CSeries jets, however Airbus’ support for the project has brought forth the hope of a stronger future potential for the Canadian firm. It is predicted that the partnership between Airbus and Bombardier will help in the escalation of the jet sales resulting in massive proceeds.

Airlines across Asia have declined to place orders for CSeries jets post the observation of Bombardier’s weak monetary position. According to reliable sources, the latter had suffered liquidation as a result of cash crises it had incurred with the manufacture of multiple aircrafts. The company had even been trying to sell the CSeries in China – reports cite that the aircraft maker was contemplating a deal with the country’s top three airlines. Airbus’s investment in the project however, is expected to assure Bombardier’s client base of the firm’s prospective stability. With this agreement, the aviation industry is likely to experience duopoly in Asia, with only Boeing and Airbus being the dominant players, cite experts.