The US$1bn the Quebec provincial government agreed to invest last year remains unfunded.
BBD stock, which last year dropped to less than C$1, threatening the listings on the Canadian exchanges, jumped to C$1.75 at one point in anticipation of a Delta order.
While on balance, it seems likely Delta will order the C Series, Bombardier has been down this road before. Only a few months ago, the market and others were excited over the prospect that BBD was close to landing an order from United Airlines, only to see Boeing swoop in and grab the deal.
This is the second try at a major contract with Delta Air Lines.
The primary competition is against Embraer, not Airbus or Boeing.
We revisit our Skyline Risk Assessment, dormant for the extended period in which BBD had no sales of the C Series.