Air Canada CEO says he is glad Bombardier challenged aircraft 'duopoly'
An Air Canada passenger jet lands on Jan. 21, 2013. (Andrew Vaughan / THE CANADIAN PRESS)
The Canadian Press
Published Friday, May 5, 2017 4:21PM EDT
MONTREAL -- The CEO of Canada's largest airline says he is glad that Bombardier has challenged "a somewhat comfortable duopoly" in the aircraft manufacturing sector by developing the CSeries passenger jet.
"Technological disruption has led to enormous innovation in the aerospace industry's relatively short lifespan and we are not in favour of attempts to stifle it," Air Canada CEO Calin Rovinescu told shareholders Friday at its annual meeting.
Air Canada's (TSX:AC) fleet of 217 planes consists mainly of aircraft made by Boeing and Airbus, the two biggest players in the aerospace manufacturing industry. The airline was also one of the first in North America to order the CSeries.
Rovinescu's comments came a week after Chicago-based Boeing filed a petition with the U.S. Department of Commerce alleging that Bombardier (TSX:BBD.B) has dumped the CSeries into the United States below cost.
Boeing wants the U.S. to impose preliminary countervailing duties of at least 79.41 per cent and anti-dumping charges of 80.5 per cent on the plane.