Well the irony is in the short term BBD.B share price could get a boost since the "bad money" will be shifted off books to the new subsidiary. Bombardier might even be able to claim profit from the "sale" of the CSeries program.
Moving unprofitable ventures off books at inflated valuation was something Enron did with great success.
But ultimately the proposed deal is bad for BBD.B shareholders because it allows the Bombardier family to remain firmly in control. There will be no governance changes and no accountability for this financial disaster.