BUZZ-Bombardier Inc: Quebec set to invest in CSeries program-sources

Wed Oct 28, 2015 11:00am EDT
 
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** Canadian plane maker's shares up 7.6 pct at C$1.56 after sources tell Reuters that Quebec govt set to invest in company's long-overdue and over-budget CSeries program

** Company will write down billions of dollars it has sunk into the program to reach a deal, the sources say

** Also to permanently mothball its Learjet 85 business jet program, according to the sources

** Total writedown including the CSeries and Learjet programs is likely to be over $4 bln, the sources say

** Up to Tuesday's close, stock had lost 65 pct of its value this year