French Economy Minister Bruno Le Maire on Tuesday hailed Airbus' acquisition of Canada's Bombardier Inc, adding the deal would boost aviation business at home and at European scale.

"I welcome this news. Anything that consolidates Airbus, everything that consolidates the European aviation industry is going in the right direction," Le Maire was quoted as saying by local media.

"In order to defend our interests, it is essential that our European and French companies consolidate. From this point of view, the agreement between Airbus and Bombardier is good news," he stated.

France-based aerospace group Airbus and Bombardier signed an accord by which Airbus will hold a majority stake in the Canadian planemaker's CSeries jetliner program. Its partners Bombardier and Investissement Quebec will own approximately 31 percent and 19 percent respectively.

Following the agreement, Airbus will provide procurement, sales and marketing, and customer support expertise to the C Series Aircraft Limited Partnership, the entity that manufactures and sells the C Series jets.

In addition, the European aerospace group will build the jets at its manufacturing site in Alabama for orders made by U.S. airlines in a move to circumvent U.S. customs duties.

"Ranging from 100 to 150 seats, the C Series is highly complementary to Airbus' existing single aisle aircraft portfolio, which focuses on the higher end of the single-aisle business (150-240 seats)," the group said.

The single aisle market represents 70 percent of the expected global future demand for aircraft, according to the France-based plane maker.

The deal triggered investor euphoria that drove Airbus stocks high by 3.81 percent to 78.65 euros (92.33 U.S. dollars) in Tuesday's trading session.