The director of Bombardier, Michael Ryan said that the conclusion of this deal was great news for the Belfast company. There is a purpose built factory in the capital where roughly 1000 people make the wings of the aircraft.
Executives of both companies said that this deal means Airbus will now take a 50.01% stake in the company. It is believed that now the negotiations have been concluded sales will be increased. Included in the deal, it means that Airbus have the right to buy full control of the C-series project in six years time.
Experts who have been following the deal closely believe that the deal is hugely significant and have likened it to a super volcano exploding in the aviation world. Bombardier are however still expected to manufacture the planes.
Davy Thompson, from the trade union Unite, said the deal was a "welcome development".
"My understanding of the deal, and what it means for Belfast, is the supply chain still seems to be what it is today, which would mean Belfast is integral to the overall process.
That should, we believe, increase and assure people’s jobs down in the C-Series plan, but there are still further challenges."
However Boeing have accused the firm of selling their jets below what they are valued after they accepted subsidies from Canada and the UK.
Phil Musser, Boeing's senior vice president of communications, tweeted:
"If @Airbus and @Bombardier think this deal will get them around the rules...#thinkagain"
A Positive Step Forward
On the whole though, this move is certainly seen as a step forward in the industry. Despite the fact that the companies are pushing for a quick response with regards to the Boeing rift. A UK Business Secretary said that both the UK and the Canadian governments were working hard to ensure that jobs were "safeguarded"
Arlene Foster, leader of Northern Ireland's Democratic Unionist Party, said she hoped the deal would "safeguard" the C-Series program.
"I’m thrilled there is a bright future ahead following what has been a dark time for staff and management," she added.
Title Image: ABC News