Bombardier sued by Comerica over aircraft payments
Bombardier Inc. was sued on Wednesday for at least $14.2-million by a unit of Comerica Inc, after the Canadian aircraft maker was unable to find buyers for four planes whose leases had expired.
According to a complaint filed in the U.S. District Court in Manhattan, Comerica Leasing Corp was the beneficiary under owner trusts that had bought the planes from Bombardier, and then leased them for 16-1/2 years to a predecessor of SkyWest Inc’s ExpressJet unit.
Comerica said Bombardier had guaranteed minimum residual values for the CL-600 business jets, which were developed by the former Canadair, and would make up shortfalls if it found no buyers or received only low bids within 90 days after the leases expired. | READ MORE