Yesterday, 7:55 AM| Yesterday, 7:55 AM
Mon, Dec. 5, 8:24 AM
Mon, Nov. 28, 10:39 AM
- Airbus (OTCPK:EADSY -0.5%) is calling for a global agreement to set rules for the aerospace industry after the WTO partially ruled in Europe's favor in the latest round of a marathon subsidy dispute with Boeing (BA -0.7%).
- "I continue to think that the only way out of the ridiculous series of disputes initiated by the U.S. is to agree on a set of globally applicable rules for the support of the civil aircraft industry, which would benefit both sides of the Atlantic," Airbus CEO Tom Enders said in a statement.
- "The duopoly is no longer the framework of reference in the future," he said, noting recent support by the Quebec government for Canada's Bombardier ((OTCQX:BDRAF +0.1%), (OTC:BRDBF)).
Fri, Nov. 25, 6:55 AM
- Bombardier Transportation (OTCQX:BDRAF, OTCQX:BDRBF) has received an option order to build 40 OMNEO premium double deck intercity trains from French state-owned railways company SNCF Reseau.
- The deal, valued at about €585M ($620M), is the exercise of an option under a 2010 contract with SNCF to provide up to 860 double deck trains to the French Regions.
Tue, Nov. 22, 8:10 AM
Sun, Nov. 13, 9:27 AM
- As part of its plan to expand in the growing industry, Honda (NYSE:HMC) expects to ramp up business jet production and assemble 80 planes annually by March 2019, up from 36 currently.
- The company began deliveries of its $4.5M jet in December and has received around 100 orders so far, mainly from customers in North America and Europe.
- It competes with similar-sized aircraft produced by Cessna (NYSE:TXT), Bombardier (OTCQX:BDRAF, OTCQX:BDRBF) and Embraer (NYSE:ERJ).
Thu, Nov. 10, 7:54 AM
- Bombardier (OTCQX:BDRAF, OTCQX:BDRBF) reported a lower-than-expected adjusted net loss of $10M compared with a $2M profit a year earlier, when the company booked non-cash charges of about $4.4B on its CSeries and Learjet 85 programs.
- The planemaker delivered 36 business jets and 16 commercial aircraft during the quarter vs. 43 and 14 in the same period last year.
- Bombardier still expects to finish the year with improved operating margins in all of its businesses and raised the lower end of its EBIT forecast to $350M from $200M, while maintaining the upper end at $400M.
Thu, Nov. 10, 6:08 AM
Fri, Nov. 4, 9:11 AM
- Metrolinx, the agency that manages public transit in Ontario, confirms it has formally notified its intent to cancel its C$770M contract with Bombardier (OTCQX:BDRAF, OTCQX:BDRBF) to supply light rail vehicles in Toronto.
- Metrolinx has expressed concerns about delays in the production of 182 light rail vehicles, which the agency ordered in 2010 to serve provincially funded light rail lines; Bombardier has not delivered any vehicles.
- Metrolinx’s notice of intent does not necessarily mean it will terminate the deal, but it is a step that follows issuance of a notice of default in July.
Thu, Nov. 3, 7:41 AM
- An Alstom (OTCPK:ALSMY) and Bombardier (OTCQX:BDRAF, OTCQX:BDRBF) consortium is the only bidder for a €3B contract to supply commuter trains after French rail operator SNCF told trainmaker CAF that it is out of the race.
- An SNCF executive said the tender process was on-going and that a final decision to provide the 270 trains to serve the Paris region would be made by year-end.
Mon, Oct. 31, 10:54 AM
- The company has hired 200 technicians and is expanding service centers in Europe, the U.S. and Asia amid a sustained slowdown in business jet sales.
- "We are focused on growing our aftermarket business," said Jean-Christophe Gallagher, VP of strategy and marketing at Bombardier Business Aircraft, but declined to specify the amount of investment or what level of sales growth the planemaker expected from the expansion.
Mon, Oct. 31, 8:30 AM
- Business jet makers will deliver fewer planes next year, according to Honeywell, deepening a downward spiral caused by slow global growth and lower oil prices.
- The forecast anticipates a low single-digit percentage decline in the number of jets delivered in 2017 as buyers wait for models arriving in 2018 and 2019.
- Honeywell also cut its 10-year outlook for business jet deliveries, saying it expects plane manufacturers to supply 8,600 new jets valued at $255B through 2026, down from 9,200 jets worth $270B it forecast last year.
- Related tickers: BA, OTCPK:EADSF, OTCQX:BDRAF, OTCQX:BDRBF, OTC:DUAVF, ERJ, GD, OTCPK:PIAGF, TXT
Mon, Oct. 31, 4:55 AM
- Hawkers of civil and military aircraft - and the money to finance them - will try to drum up new business at aerospace expos this week, conscious their high-risk industry is approaching a turning point.
- China's biggest aviation event - Airshow China - starts in Zhuhai tomorrow. A defense trade show will also take place in Jakarta and an air finance conference in Hong Kong, as well as the annual U.S. business jet jamboree in Orlando, Florida.
- Among the U.S. exhibitors: AME, BA, ERJ, HON, HXL, LLL, LMT, SNA, TKR, TXT, UTX
Fri, Oct. 21, 7:29 AM
- Canadian aerospace and train manufacturer Bombardier (OTCQX:BDRAF, OTCQX:BDRBF) plans to deepen its job-cuts program, saying it will axe 7,500 positions, or 10% of its global workforce, over the next two years as it doubles down on its efforts to turn around its rail division.
- Bombardier, which announced other job losses in February, expects recurring savings of about $300M by the end of 2018 from the latest move, although it will also take restructuring charges of $225-275M starting in Q4 2016.
Fri, Oct. 14, 7:20 PM
- Bombardier (OTCQX:BDRAF, OTCQX:BDRBF) says it received a letter of intent from Philippine Airlines to buy up to a dozen of its Q400 aircraft for an undisclosed purchase price.
- Bombardier says ~190 of its aircraft are either in service or have been ordered by airlines in the Asia-Pacific region.
- The company also says it has firm orders on the books for a total of 565 Q400 aircraft.
Thu, Oct. 6, 8:02 AM
- Bombardier (OTCQX:BDRAF, OTCQX:BDRBF) expects the first flight of its new Global 7000 ultra-long-range business jet to take place in November, a boost for the plane whose entry-into-service has been delayed two years.
- The test flight is expected to last longer than two hours, and would be a milestone for the new luxury jet, which is scheduled to enter service in 2018.