GlobeNewswire Inc | Oct 30, 2020 08:39AM EDT

October 30, 2020

All amounts in this press release are in U.S. dollars unless otherwise indicated.

MONTREAL, Oct. 30, 2020 (GLOBE NEWSWIRE) -- The closing of the previously announced aerostructure business transaction between Bombardier Inc. (TSX: BBD.B) and Spirit AeroSystems Holding, Inc. (NYSE : SPR) came into effect today on October 30, 2020.

Spirit now owns Bombardiers aerostructures activities and aftermarket services operations in Belfast, U.K.; Casablanca, Morocco; and its aerostructures maintenance, repair and overhaul (MRO) facility in Dallas, U.S. in exchange for cash consideration of $275 million, Spirits assumption of liabilities, including government refundable advances, pension obligations, as well as certain adjustments to the parties trading agreements favourable to Bombardier. The total transaction value is approximatively $1.2 billion.

About BombardierWith over 52,000 employees across two business segments, Bombardier is a global leader in the transportation industry, creating innovative and game-changing planes and trains. Our products and services provide world-class transportation experiences that set new standards in passenger comfort, energy efficiency, reliability and safety.

Headquartered in Montral, Canada, Bombardier has production and engineering sites in over 25 countries across the segments of Aviation and Transportation. Bombardier shares are traded on the Toronto Stock Exchange (BBD). In the fiscal year ended December 31, 2019, Bombardier posted revenues of $15.8 billion. News and information are available atbombardier.comor follow us on Twitter@Bombardier.

Bombardier isatrademark of Bombardier Inc. and its subsidiaries.

For InformationJessica McDonaldAdvisor, Media Relations and Public AffairsBombardier Inc. +1 514 262 7255jessica.mcdonald@bombardier.com

Patrick GhocheVice President, Corporate Strategy and Investor RelationsBombardier Inc.+514 861 5727