February 8, 2017 / 3:26 PM / a year ago

BUZZ-Bombardier Inc: Shares jump on federal loan

** Shares of Canadian aircraft and train maker rise as much as 5 pct to C$2.68 in early trade

** Canadian govt announces C$372.5 mln in repayable loans to company for 2 of its jet programs

** Loan value far less than $1 bln originally sought by company

** CEO Alain Bellemare calls loan the right level of support, also says Bombardier’s financial situation improved

** Federal govt also promises to defend the deal against a potential trade challenge by Brazil

** Brazil filed a formal complaint against Canada in February, at the World Trade Organization for its Bombardier subsidies

** Brazil accused Canada of distorting the global aerospace industry, undercutting the market for Brazilian rival Embraer SA

** As of Tuesday’s close, Bombardier’s shares had risen more than threefold in the last 12 months

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