04:33 PM EDT, 04/25/2024 (MT Newswires) -- Aircraft manufacturer Bombardier Inc. (BBD-A.TO, BBD-B.TO) says it too has been granted an exemption from Canadian sanctions targeting Russian titanium that could interfere with its business in Canada, The Globe and Mail reports Thursday.

The report noted the Montreal company is the second aerospace firm to be identified as having obtained a waiver from Canadian sanctions targeting Russian titanium maker VSMPO-AVISMA Corp., one of the world's largest producers of the rare metal. Airbus was the first.

Bombardier CEO Eric Martel told media Thursday that his company received an exemption from the sanctions on VSMPO-AVISMA because some of the aerospace firm's suppliers buy the metal. A strategic metal prized for its strength relative to its weight, titanium is used mainly in aircraft engines and landing gear for large planes, the report noted.

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