Bombardier and Mitsubishi have agreed that the latter will purchase Bombardier’s CRJ regional jet program. Details of the deal have not yet been disclosed.
In a statement, Mitsubishi said, Bombardier’s trade secrets lawsuit against its aircraft unit has been “stayed” or suspended and will be dropped when a deal for the Japanese company to buy Bombardier’s regional jet program closes.
In October, Bombardier had sued Mitsubishi Aircraft Corporation alleging that former Bombardier employees had passed on trade secrets to help Mitsubishi’s oft-delayed regional jet project.
On Tuesday however, both sides agreed to Mitsubishi’s purchasing Bombardier’s loss-making CRJ regional jet program.
“The (legal) action has been stayed for the time being and if and when the transaction closes the case will be dropped,” said Mitsubishi Heavy Industries’ representative. “Today is simply the announcement of the definitive agreement. Future plans will be announced once the transaction is closed in early 2020”.