Ontario Premier Doug Ford has announced the sale of a private jet, originally purchased by the province for $28.9 million, back to Bombardier for the same price. The move, revealed at a Toronto event on Wednesday, follows intense public criticism over the acquisition during a widespread affordability crisis.
Ford’s decision to offload the jet comes just days after his office signaled intentions to sell, acknowledging the public’s disapproval. The premier had initially defended the purchase, arguing earlier this week that the jet was necessary for provincial needs. However, he pivoted after feedback from Ontarians became overwhelmingly negative, stating he heard their concerns “loud and clear.”
Critics, including Opposition Leader Marit Stiles, have slammed the purchase as tone-deaf amid economic struggles for many in the province. Stiles has demanded that Ford personally cover any additional costs tied to the jet’s acquisition and subsequent sale, though specifics on such expenses remain undisclosed. The full financial impact of the transaction, beyond the purchase and sale price, has yet to be clarified by the government.
READ: Air Ford One: Ontario Buys $29M Executive Jet For Doug Ford
The controversy erupted earlier this month when the jet’s acquisition first drew attention, spotlighting broader debates over fiscal responsibility in Ontario. Ford’s administration has faced mounting pressure to prioritize affordability measures over discretionary spending, with the jet becoming a lightning rod for public frustration.
The sale price of $28.9 million matches the original cost, ensuring no immediate loss on the transaction itself. However, questions linger over ancillary expenses that may have accrued during the brief ownership period, a point of contention likely to fuel ongoing political debate in Queen’s Park.
Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.