Shares in Bombardier Inc (TSE:BBD) took off on Tuesday amid hopes for a deal that could kick-start sales of the plane-maker’s long-delayed CSeries jet.
The stock rose 8.9% to C$1.96 as investors awaited the go-ahead from Delta Airlines for an order for up to 125 of the mid-sized aircraft.
Delta’s board is widely expected to approve the deal for an initial 75 jets this week.
The aircraft was conceived as a ground-breaking alternative to mid-sized jets made by rivals Airbus (EPA:AIR) and Boeing (NYSE:BA).
But the project has faced delays and has gone significantly over-budget.
A Delta deal, coupled with a firmed-up agreement for 45 CSeries jets with Air Canada (AC.TO), would take orders for the jet above the psychologically important 300 target.
The company, which also owns a train-making division with a factory in Derby in the UK, has its annual meeting on Friday.