Bombardier Aerospace has been known for its innovation and entrepreneurial spirit since the beginning of its existence. They, along with Airbus and Boeing, have set the standards for aircraft but Bombardier has hit a few obstacles on the way to greatness.

Airbus could save the Bombardier C-Series jet

The Bombardier C-Series jet recently hit a snub with a trade dispute in the US that imposed a 300 percent import tariff on the plane. In a bid to save the Bombardier C-Series jet, Airbus will take a majority stake at 50 percent in the Bombardier C-Series jet programme.

The deal could allow the aircraft maker, Bombardier, to circumvent US trade penalties meaning that the company could change the origin of its product - a somewhat peripheral loophole - so that it could create the aircrafts in the US for US customers. Financially, Airbus could save the C-Series jet from further difficulties. Bombardier will own 31 percent and Investment Québec will own 19 percent in the C-Series Aircraft partnership.

The deal would also save people's jobs, secure the industrial operations in Canada, the UK and in China and also create new jobs in the US.

A step in the right direction

With Airbus' muscle in sales and marketing plus customer support, this partnership could reinforce demand for Bombardier's aircraft which is the latest in the industry and is highly rated for its fuel efficiency - helping the company overcome the struggles it has faced to secure orders in recent months.

To prevent the imposition of tariffs on planes sold to US buyers, Airbus will also, in addition, produce the jets at its factory in Alabama.

"This partnership should more than double the value of the C-Series programme" the Chief Executive of Bombardier, Alain Bellemare said as reported by Airbus on Twitter.

Northern Ireland and Airbus Bombardier deal

Northern Ireland plays a big part in the wings production of the C-Series jet in Belfast at Queen's Island. About a quarter of the workforce is involved in the project.

So the fact that this deal was successful, is significant news for Northern Ireland and the company's employees..

Arlene Foster, DUP leader has said in a statement that "there is a bright future ahead following what has been a dark time for staff and management. Airbus is a fitting partner," referring to the many jobs in Belfast that were under threat due to Boeing's rival dispute over the C-Series.

Airbus shares are already up by 3.04 percent at 79.41 euros in reaction to the news.