Triump’s lawsuit alleged Bombardier failed to pay for expenses related to changes in wing designs for its Global 7000 business jet.
Compensation for the company’s top five executives and board chairman grew by nearly 50% in 2016 despite its financial troubles.
Losses related to troubled CSeries jets, public dispute over Toronto rail line and a WTO complaint over federal financial assistance.
Money will be handed out over four years to support the Global 7000 and CSeries aircraft projects.
Bombardier says the planes will emit 120,000 tonnes less CO2 over their lifetime than other jets of similar size.
Up to 2,000 of the cuts, mainly in Canada and Europe, will be contractors.
No specific dollar figure has been requested.
Ratifications include improved pensions and job security, along with wage increases.
IPO expected to take place in the fourth quarter of this year.
The transportation giant has revised the program’s estimated cost to US$5.4 billion.
Aerospace division has been into three units, each reporting to Bombardier CEO Pierre Beaudoin.
Transportation giant’s aerospace division is laying of 1,800 employees.
Aircraft manufacturer gets letters of intent for more than 40 jets from British and Chinese companies.
Includes five Q400 Turboprops for Calgary-based WestJet.
Aerospace giant says freeze caused by costly delays in the launch of its CSeries commercial jet.