Back to the list of news
June 26, 2019
Positive Results for Investissement Québec at the Paris-Le Bourget International Air Show
Held every two years, the Paris-Le Bourget International Air Show is one of the biggest international events in the aerospace industry. It draws the world’s top manufacturers along with carriers and thousands of suppliers, subcontractors, governments and service companies associated with the industry.
A series of meetings
LeBlanc and Minister Fitzgibbon took advantage of their presence at the trade show to hold a series of one-on-one meetings with foreign investors to promote the unparalleled competitive advantages that Québec is able to offer in this cutting-edge industry.
Major projects announced
- Investissement Québec and France’s Flying Whales have signed a letter of agreement for IQ to purchase a 25% stake in the company. Flying Whales is developing a cargo airship able to ship freight to remote regions at competitive prices.
- Airbus announced the sale of approximately 50 A220-300 aircraft (the former C Series) to American aircraft leasing company Air Lease, a sale that is expected to have significant repercussions on the Québec ecosystem.
- Delta purchased five additional A220-100 jetliners assembled in Mirabel, bringing its total order to 95 aircraft.
- Mecachrome will invest $18 million in addition to $2.3 million in non-refundable funding from Québec to increase production capacity at its Mirabel plant. The project is expected to create roughly 80 additional jobs.
- Thales Canada and Bell Helicopter are investing $11 million in a project to develop an aircraft with a hybrid-electric propulsion system. Development of the revolutionary new vertical-take-off craft, designed for the urban transportation market, should lead to the creation of approximately 20 jobs by 2021.
- French company Derichebourg Atis aéronautique announced plans to open a Canadian subsidiary in Montréal in the near future.
- Finally, Somepic Technologie announced a new facility in Granby for next fall.
- Québec’s aerospace industry employs over 42,000 specialized workers at some 200 world-renowned companies, including five major manufacturers and some 15 leading partners, equipment suppliers and top names in maintenance, repair and overhaul. Québec is home to over 70% of Canada’s aerospace R&D expenditures and exports more than 80% of its aerospace production outside the country, making it a highly sought-after partner for companies seeking to establish collaborative relationships with major international manufacturers.