Bombardier shares hit highest level in 24 years after deal with Saudi firm - The Logic

Bombardier shares surged to the highest level in 24 years after the company reached a letter of intent with Saudi The Helicopter Company. The LOI covers 12 Bombardier jets, with options that could expand the order to 60 aircraft if exercised. On Tuesday afternoon, Bombardier shares rose by about 3% on the Toronto Stock Exchange, reflecting market optimism around the deal. The Helicopter Company, established by Saudi Arabia’s Public Investment Fund, also operates aircraft for emergency medical services and tourism. The Logic noted that the transaction is strategically important for both firms: it supports Bombardier’s private jet business during its financial rebound over the past two years. For THC, the agreement would effectively double its total fleet, with jets intended for private business travelers.