Bombardier Announces Settlement of New York Bondholder Lawsuit

MONTRÉAL, July 01, 2024 (GLOBE NEWSWIRE) — Bombardier Inc. (“Bombardier” or “Company”) today announced that it has reached an agreement to settle the lawsuit titled Antara Capital Master Fund LP, Corbin ERISA Opportunity Fund Ltd. and Corbin Opportunity Fund, L.P. v. Bombardier Inc., et al. (the “Lawsuit”)The Lawsuit is pending in New York State Supreme Court, Commercial Division New York County since it was filed in January 2022. For a description of the Lawsuit, we refer you to the litigation note included in the Company’s latest published quarterly financial report for the period ended March 31, 2024. 

The settlement will become effective following satisfaction of customary conditions which may take a few days. The settlement resolves the Lawsuit completely and avoids the distraction, expenses and uncertainty associated with any litigation. All defendants will be fully released without any admission of liability. 

The settlement also contains a consent from plaintiffs, as beneficial holders of outstanding 7.45% Senior Notes due 2034, to the amendments of the indenture governing such notes (the “Indenture”) entered into in 2021, including consent that the divestiture transactions referred to in the Lawsuit did not give rise to any default under the Indenture, and for the avoidance of doubt, a waiver of any alleged default under the Indenture in connection therewith. 

The terms of the settlement agreement are confidential. 

The settlement is not material to the Company’s financial results or consolidated cash position.

While the Company strongly believes the allegations in this case were without merit, it also believes that it is in the best interest of the Company and all its stakeholders to settle this lawsuit and concentrate on its core business operations.

About Bombardier

At Bombardier (BBD-B.TO), we design, build, modify and maintain the world’s best-performing aircraft for the world’s most discerning people and businesses, governments and militaries. That means not simply exceeding standards, but understanding customers well enough to anticipate their unspoken needs.

For them, we are committed to pioneering the future of aviation—innovating to make flying more reliable, efficient and sustainable. And we are passionate about delivering unrivaled craftsmanship and care, giving our customers greater confidence and the elevated experience they deserve and expect. Because people who shape the world will always need the most productive and responsible ways to move through it.

Bombardier customers operate a fleet of approximately 5,000 aircraft, supported by a vast network of Bombardier team members worldwide and 10 service facilities across six countries. Bombardier’s performance-leading jets are proudly manufactured in aerostructure, assembly and completion facilities in Canada, the United States and Mexico.   


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