November 3, 2015
The government of Quebec has entered into a memorandum of understanding for a $1.3 billion bailout package for Bombardier. Under the terms of the agreement, the government of Quebec would receive a 49.5-percent equity stake in the C-Series program, together with a guarantee that Bombardier will maintain its presence in the Province of Quebec for the next 20 years. Bombardier has accumulated more than $4 billion in debt in the development of the C-Series.
Airbus has confirmed that it will increase production of its A320 NEO aircraft to 60 airplanes per month by mid-2019 to meet demand for the NEO.
China's COMAC held its official roll-out ceremony for its C919 civil airline the past week. The airplane is expected to enter service in 2018, and will compete directly with the Boeing 737 MAX, Airbus A320 NEO, and Bombardier C-Series. The C919 features the same CFM International LEAP engines as are available on the Airbus A320 NEO, although the NEO also comes with the option for the Pratt & Whitney PW1100G Geared Turbofan(TM).
CFM International has delivered its first set of LEAP-1B engines to Boeing, for flight test aboard the 737 MAX. The LEAP-1B utilizes a smaller core and fan, as compared to the LEAP-1A and LEAP-1C engines that are offered on the Airbus A320 NEO and on China's C919 airlines, respectively. CFM is a 50-50 joint venture between General Electric Aircraft and France's Snecma.
The Japanese government has given regulatory approval for first flight of the Mitsubishi Regional Jet. The first flight is scheduled to take place next week.
The regional jet market is expected to undergo a transformation in coming years as a new generation of regional aircraft enter the market, largely pushing out their older competitors. The Embraer E-Jet E2, Mitsubishi Regional Jet (MRJ), and Bombardier C-Series are all expected to enter production in coming years, each featuring more fuel efficient Geared Turbofan(TM) engines produced by Pratt & Whitney Aircraft.