Airbus and the Government of Quebec are jointly investing US$1.2 billion in the Airbus Canada Limited Partnership (Airbus Canada) in proportion to their respective share ownership and are extending their partnership until 2035. This investment by the two shareholders in the industrialization and continuous improvement of the only commercial aircraft programme designed and manufactured in Quebec is key to the success of the A220 programme. The economic benefits from Airbus and the A220 have benefited, and will continue to benefit, the Quebec economy.

The shareholders of Airbus Canada made the announcement at a press conference today at the A220 site in Mirabel, in the Laurentians, with the Premier of Quebec, François Legault, the Minister of Economy, Innovation and Energy, the Minister Responsible for Regional Economic Development and the Minister Responsible for the Metropolis and the Montreal Region, Pierre Fitzgibbon, the Member of the National Assembly for Mirabel, Sylvie D'Amours, and the Member for Les Plaines, Lucie Lecours.

Airbus holds 75% of the shares in Airbus Canada, and the Government of Quebec holds 25%. In proportion to their respective share ownership, Airbus will invest up to US$900 million and the Government of Quebec up to US$300 million, through Investissement Québec. The shareholders also agreed to extend the redemption date of the Government of Quebec's equity interest in the partnership, from 2030 for an additional five-year period to 2035, which will give Airbus Canada time to create more value for the A220 programme, particularly as we aim to deliver 14 aircraft per month in 2026.

Quotes

"I am very proud to announce a new investment by our government in the Airbus A220 programme, a Quebec-designed aircraft which is the best in the world in its category. Today, we are consolidating the presence of Airbus, an aerospace giant, in a sector that creates enormous wealth for our nation. We are building a strong, prosperous and forward-looking economy in Quebec," declares François Legault, Premier of Quebec.

"The A220 is the fruit of Quebec genius, and we can be proud of having developed one of the best aircraft in the world. By extending our partnership with Airbus to accelerate activities around the development of the A220 aircraft, we are securing key jobs in the Mirabel region for years to come," says Pierre Fitzgibbon, Minister of Economy, Innovation and Energy, Minister Responsible for Regional Economic Development and Minister Responsible for the Metropolis and the Montreal Region.

"Since Airbus joined the partnership with the Government of Quebec in 2018, we have made a considerable investment in the A220 programme, in order to give this aircraft all the industrial fundamentals, processes and skills that will ensure all the success it deserves. We strongly believe in the future of the A220, one of the most technologically advanced aircraft, which is already recognized by airlines for its economic performance and reduced carbon footprint, and is also a favourite with passengers because of its innovative cabin design. Quebec has an outstanding labour force and aerospace ecosystem, and therefore has everything needed to ensure the full potential of the A220 programme," expressed Benoît Schultz, CEO of Airbus Canada.

About the A220

The programme has experienced substantial growth. Here are some key facts and figures about the achievements of the A220 and the Mirabel site since Airbus gained majority ownership on July 1, 2018:

- The order book has more than doubled to over 900 aircraft to date.

- The number of employees has increased by 75%, including 1,600 new hires in Quebec over the last two years, for a total of 3,500 people working on the A220.

- The A220 has over 55% market share in its category, and improvements to the aircraft have been made to extend its range and increase its passenger load factor.

20 times more passengers have flown on the 340 A220 aircraft currently operated by airlines, for a total of 100 million passengers to date.

- Numerous industrial projects, such as the expansion of workstations, the addition of the only Airbus subassembly area outside Europe and inauguration of the A220 Flight and Integration Test Center, which began operations at the beginning of the year and ensures continuous improvement of the product. This is the second Airbus flight test center in the world, and comprises two test aircraft and aircraft test beds.

- A commitment to innovation in Quebec as a driver of sustainable growth with the creation of ten partnerships between Airbus, SMEs, research centers and universities, particularly in supporting development of sustainable aviation fuels and of studies on the recycling of aeronautical materials.