The new target date for entry into service is now 2013

The company said it wants to delay by three years the launch of its new CSeries passenger jet.

The aircraft had been due to deliver in 2010. Sir Reg said he was concerned other companies would fill the gap in the market.

He feared �180m of government money to help fund the project would be lost.

"I see it as the long-term future," he said. "This is a 20, 30, 40 year programme.

"Shorts was in to do major parts of the aircraft - hopefully the wings and things like that - which are labour intensive, but also scientifically and technologically intensive.

"This is exactly the type of things I wanted Shorts to get involved in.

"We will have to hope that in March, when the company makes its next statement on this, we will see that it is really moving forward."

'Potential hazards'

The DUP's Robin Newton said he was shocked about Bombardier's decision to further delay the project.

He said the decision would have an impact on the Northern Ireland economy.

"I would be very concerned about that decision. Shorts is a major employer in the east of the city.

"Any impact, or any job reduction, or potential hazards for the company do in fact reflect in other areas as well."

Earlier this week, Bombardier confirmed it would continue to "refine its CSeries business plan".

The new target date for entry into service was now 2013, it said.

Bombardier president Pierre Beaudoin said: "The decision process related to the launch of an aircraft program with more than a 20-year lifespan takes time and requires a well-defined business plan to ensure the program's long-term success.

"As we have previously confirmed, the CSeries plan includes international partnerships, and discussions are progressing."