European aircraft manufacturer Airbus will take a majority stake in Canadian counterpart Bombardier's C-series jet with effect from July 1, the two companies announced Friday.
The companies said they had got all necessary regulatory approvals for the deal, first announced in October after US President Donald Trump slapped punitive tariffs on imports of Bombardier jets.
US manufacturer Boeing had alleged that Bombardier was receiving unfair Canadian government subsidies.
The C-series narrow-body jets range from 100 to 150 seats, while Airbus' own A320 narrow-body workhorse typically seats 165.
Under the deal, Airbus will take a majority stake in a partnership company manufacturing and selling the C-series.
Bombardier and Canadian provincial investment body Investissement Quebec will retain minority stakes.
The partnership will be headquartered in Quebec and the main assembly line will remain there, the companies said. A second final assembly line may also be set up in Alabama to supply US-based customers.
