Bombardier CSeries suffers setback as first operator backs away

|About: Bombardier Inc.B (BDRBF)|By:, SA News Editor

Bombardier's (OTCQX:BDRBF, OTC:BOMBF) CSeries jetliner program is hit with another delay as Braathens Aviation said it would back away from its role as the first operator of the plane and that it may seek other changes to delivery plans, citing "increased uncertainty" and "challenging" market conditions.

The jet has been grounded for three months after one of the plane's engines suffered a major failure during ground trials.

Braathens was believed to be scheduled to receive the first CSeries jets next summer after agreeing in 2011 to order 10 of the jets in a deal valued at $665M based on list prices; the accord also contained options for another 10 aircraft, boosting its potential value to ~$1.37B.