The Economy Minister of Quebec, Pierre Fitzgibbon, has expressed confidence that the province will recover its investment in the A220 narrowbody jet program by Airbus, in which it holds a 25% stake. Despite the program currently losing money and facing cost overruns and production delays, Fitzgibbon believes it will turn profitable between 12 to 18 months later than the originally projected 2025, due to strong market demand.
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Quebec's aerospace industry, a vital part of its economy, invested $300 million in the program in 2022, following a $1 billion investment in Bombardier, the original manufacturer of the plane, in 2016. An agreement last year allows Quebec to remain in the deal until Airbus buys it out in 2030.
Fitzgibbon is optimistic that Quebec will at least break even on its investment. The A220, with seating capacity varying between 110 and 130 depending on the model, is manufactured in both Mobile, Alabama, and Mirabel, Quebec. Airbus plans to increase production in Mirabel to 10 A220s a month, with Mobile producing four jets a month.
The Mobile production line was established to cater to U.S. customers and avoid a trade dispute with Boeing when Airbus took over from Bombardier in 2018. Fitzgibbon stated that Mirabel is capable of producing A220 jets for any customer as Mobile reaches its production capacity.
