February 13, 2020 / 4:27 AM / 14 days ago

Airbus negotiating to win large preliminary order for A220 jets

FILE PHOTO: The logo of Airbus is pictured at the aircraft builder's headquarters of Airbus in Colomiers near Toulouse, France, November 15, 2019. REUTERS/Regis Duvignau/File Photo

SINGAPORE (Reuters) - Airbus is negotiating a preliminary order for up to 100 A220 jets as it prepares to buy out Bombardier’s (BBDb.TO) minority stake in the Canadian-designed jet, industry sources said.

The marketing effort lifted a subdued Singapore Airshow as industry sources said Canada’s Bombardier was ready to announce that it would cede its stake in the A220 programme to majority owner Airbus and complete its exit from commercial aviation.

Airbus (AIR.PA) declined to comment.

The Wall Street Journal identified the potential buyer as Nigeria’s Green Africa, which in late 2018 struck a tentative deal with Boeing (BA.N) for 50 737 MAX and options for another 50.

(This story corrects attribution in paragraph 4 to Wall Street Journal, fixes date of tentative Boeing deal for 2019 to 2018)

Reporting by Tim Hepher, Jamie Freed, Allison Lampert; Editing by Kim Coghill

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