Bombardier pushes back CSeries launch by 6 months, receives $1.21B order

|About: Bombardier Inc.A (BDRAF)|By:, SA News Editor

Bombardier (BDRAF -4.9%has delayed the delivery of its first new CSeries aircraft by ~6 months, with the CS100 now expected to enter service in 2H 2015. The larger CS300 is expected 6 months after.

Prior to the announcement, the airplane maker said it had received a firm order for 16 new CS300 jets from SaudiGulf Airlines - the deal would be valued at $1.21B at list prices. The value could increase to $1.99B if the airline exercises options to acquire another 10 CSeries.

The newest deal brings Bombardier's firm order count to 198 CSeries planes, with options for nearly 250 more. The company is aiming for 300 firm orders before the aircraft enters service.