Bombardier to sell regional jet business to Mitsubishi for $550 million

(Reuters) - Canadian plane and train maker Bombardier Inc will sell its money losing regional jet business to Japan's Mitsubishi Heavy Industries Ltd for $550 million (431 million pounds) in cash, the companies said on Tuesday.Bombardier has been selling some of its businesses and recently combined its aviation units to focus more on profitable business jets and passenger rail cars.Bombardier's jet programme, or the CRJ, which produces jets to connect regional centres, has no orders beyond 2020..