Bombardier Gets Order for Northwest Planes
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Bombardier Inc. won an order for 75 44-seat jet aircraft from Northwest Airlines Corp. valued at $1.68 billion, beating Brazilian rival Embraer with Canadian government help.
Canada’s government agreed to lend up to 80% of the price to Northwest to beat comparable offers from Brazil, which wanted the airline to buy Empresa Brasileira de Aeronautica planes. Trade Minister Pierre Pettigrew made a similar offer in April to help Bombardier win a contract from Air Wisconsin Airlines Corp.
Brazil and Canada have accused each other of unfairly subsidizing aircraft exports since June 1996.
St. Paul, Minn.-based Northwest has an option to purchase 175 more of the CRJ-series planes. The initial order will be delivered between the third quarter of 2002 and 2005, Bombardier said.
Northwest shares rose 7 cents to close at $23.62 on Nasdaq.
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