Bombardier wins surprising victory over Boeing

first_imgMONTREAL (NEWS 1130) – Bombardier Inc. won a resounding victory Friday when the U.S. International Trade Commission eliminated nearly 300 per cent in duties on its C Series commercial jet by unanimously voting against a petition filed by Boeing Co.Commissioners voted 4-0 that Boeing didn’t suffer harm from prospective imports of C Series planes.“Today’s decision is a victory for innovation, competition, and the rule of law,” the Montreal-based manufacturer said in a news release moments after the vote was announced.The decision was a surprise for some observers who expected the commission would side with Boeing even though they believed the company sustained no harm. Even one government official said it wouldn’t be surprised by a loss.The decision caused Bombardier’s stock to shoot up to its highest level in three years.Bombardier takes off: +18% to $3.62 after surprise win over Boeing. U.S. trade panel says imports of C Series jets do not harm that country’s industry.— Richard Dettman (@rwdettman) January 26, 2018Bombardier also called it a victory for U.S. airlines and the American travelling public.“With this matter behind us, we are moving full speed ahead with finalizing our partnership with Airbus,” it added.Chicago-based Boeing said it is disappointed by the decision but will review the commission’s detailed opinions when they are released in the coming days.“We are disappointed that the International Trade Commission did not recognize the harm that Boeing has suffered from the billions of dollars in illegal government subsidies that the Department of Commerce found Bombardier received and used to dump aircraft in the U.S. small single-aisle airplane market,” it said in a statement.“Those violations have harmed the U.S. aerospace industry, and we are feeling the effects of those unfair business practices in the market every day.”Boeing said it will continue to document any harm to Boeing from illegal subsidies and dumping pricing.“We will not stand by as Bombardier’s illegal business practices continue to harm American workers and the aerospace industry they support. Global trade only works if everyone adheres to the rules we have all agreed to. That’s a belief we will continue to defend.”Boeing launched the trade case last April, arguing that governments in Canada and Britain subsidized the plane’s development and allowed Bombardier to sell it at unfairly low prices.last_img

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