The investment is designed to secure hundreds of jobs at the company’s Belfast factory. “This will help to secure jobs for Northern Ireland’s economy and cement the UK’s role as a leading manufacturer of high-tech aircraft components,” said Hammond.
Last week’s Farnborough Airshow saw orders for 60 A220 aircraft, previously known as the Bombardier CSeries. The wings for the planes are made at the Belfast plant. On top of this, the funding will help the company develop the thrust reverser for the new Airbus A320 NEO.
For Bombardier’s workers, the news has come as a relief. Last year, major rivals Boeing complained about Bombardier selling the CSeries aircraft to Delta Airlines at below cost price. The US Department of Commerce threatened a 300% sales duty on all CSeries planes for five years, putting 1,000 Belfast jobs at risk.
Since 2010, Northern Ireland has seen a 14.2% increase in productivity since 2010 – the fastest of all the regions of the UK.
