In a struggling economy, Canada’s aerospace industry is flying high
Canada's aerospace sector is experiencing a significant resurgence, highlighted by a record-breaking order of 150 A220 jets from AirAsia. The deal, supported by government promotion, signals a shift toward more active state involvement in securing international manufacturing contracts.
Why it matters
This development underscores the economic recovery of the global aviation industry and suggests a more aggressive Canadian industrial policy in the aerospace sector.
When Airbus SE EADSY announced its latest order for the Canadian-built A220 jet at a news conference in Mirabel, Que., this past May – a fun-loving affair attended by a beaming Prime Minister Mark Carney and cheerful employees carrying heart-shaped signs – the list of superlatives ran long.
VIPs queued up to speak in an aircraft hangar bathed in blue light and proclaimed it the single biggest order to date for the airliner: A sale of 150 jets to low-cost carrier AirAsia worth US$19-billion at list prices.
It was also the biggest order in history for a Canadian-made commercial airplane, eclipsing Bombardier Inc.’s BBD-B-T regional jet sales over the years, as well as all other deals.
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