De Havilland Canada Secures Up to $2.5 Billion to Double DHC-515 Waterbomber Production
De Havilland Canada has reached an agreement with the Government of Canada and Export Development Canada for up to $2.5 billion in financing to double production of the DHC-515 waterbomber, create thousands of jobs, and strengthen the national aerospace supply chain.
De Havilland Canada has entered into an agreement with the Government of Canada and Export Development Canada (EDC) to double production of the De Havilland Canadair 515 (DHC-515) waterbomber. Under the deal, Canada and EDC agreed to provide up to $2.5 billion in financing to support the production increase.
The financing will allow De Havilland Canada to bring additional aircraft slots to market starting in 2030, ramping up to double its current capacity. The commitment aims to produce more waterbombers sooner and create thousands of Canadian jobs, increasing the availability of essential firefighting aircraft.
De Havilland Canada will use the funds to hire new staff and invest in production capacity at its sites in Victoria, Calgary, Toronto, Kitchener, and Fort Erie. Supply chain jobs are also expected to be created from Newfoundland to British Columbia as part of the initiative, strengthening Canada's aerospace industry and supply chain. To support the effort, De Havilland will work with suppliers to accelerate the delivery of DHC-515 components.
It is anticipated that the transaction will be complete by the first quarter of 2027.