Bombardier bailout talks hung up over federal proposal to end dual shares: report

Talks on federal financial aid for Bombardier involving the government are said to be at a "standstill," according to a report published Friday by Bloomberg.

Bloomberg said Prime Minister Justin Trudeau is pushing for a plan that would see the federal government contribute $1 billion, the government of Quebec contribute $1 billion and the company raise $1 billion through a share sale. The federal government is also reported to be pushing for the end of the dual-class share structure that gives the Bombardier and Beaudoin families control of the company.

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Citing unnamed sources, Bloomberg said Montreal-based Bombardier is reluctant to agree to those demands.

A Bombardier spokesperson said in an email that talks with Ottawa are continuing, but declined to elaborate, Bloomberg said.

Quebec has already promised a $1.3 billion injection into Bombardier's CSeries jet program, which recently got some good news when it inked a deal with Delta.