Thu, Jul. 30, 2:46 PM
- Bombardier (OTCQX:BDRBF -9.8%) reports Q2 earnings that beat analyst estimates and saying the CSeries commercial plane should be ready to enter into service next year, but says its Global 7000 business jet will be delayed until H2 2018 due to development challenges.
- "The feedback [from customers] is pretty unanimous: They understand, but they’re disappointed because they want the plane now,” CEO Alain Bellemare said during today's earnings conference call.
- The company had previously promised a 2016 debut for the Global 7000, with the 8000 following in 2017.
- The CEO also says the production rate for the Global 5000 and Global 6000 aircraft has been reduced from previous targets of 80 planes a year to 50-60, will have an as-yet unknown impact on cash flow this year and EBIT next year.
- Q2 EPS was $0.06, beating the $0.05 analyst consensus estimate, while revenues rose 2% Y/Y excluding foreign exchange to US$4.6B, in-line with the US$4.61B consensus.
Wed, Jul. 29, 2:19 PM
- Bombardier (OTCQX:BDRBF +7.6%) says it is sticking with a tentative plan for an IPO of its rail business in Q4, and refutes an earlier report of merger talks with Siemens (OTCPK:SIEGY +0.2%) over the unit.
- An IPO or sale of the rail unit would help Bombardier pare debt that ballooned to more than US$9B during development of the CSeries jet, which has been delayed by more than two years and is ~US$2B over budget.
Wed, Jul. 22, 2:15 PM
- Shares of Bombardier (OTCQX:BDRBF -7.2%) fall to their lowest in nearly 22 years after an industry supplier cites weak demand for large luxury planes.
- Amin Khoury, chairman of aircraft interiors maker B/E Aerospace (BEAV -10.9%), told analysts on an earnings conference call earlier today that demand for large cabin jets has come under pressure in markets such as China, Russia and Latin America as governments and energy companies cut spending.
- "The business-jet environment remains very tough, especially on the international front," says a Desjardins analyst.
- Earlier: B/E Aerospace drops after missing expectations
Thu, Feb. 12, 10:55 AM
Thu, Jan. 15, 10:52 AM
- Other firms are likely to feel a pinch after Bombardier ((OTCPK:BDRAF -18%),(OTCQX:BDRBF -20.8%)) announced it's pausing its Learjet 85 program.
- Rockwell Collins (COL +0.7%) supplies the Learjet 85's avionics, Pratt & Whitney (UTX +0.7%) Canada provides the jet's engines, while LMI Aerospace (LMIA -0.2%) takes part in the plane's engineering.
Sep. 26, 2014, 10:51 AM
- Bombardier (OTCQX:BDRBF +4.4%) says it received a firm order for 40 of its new CSeries jets, with options on another 10, from leasing company Macquarie AirFinance, bringing the plane maker’s total firm orders for the new aircraft to 243.
- The CSeries program has suffered repeated delays and ballooning costs; Bombardier resumed CSeries test flights on Sept. 7 after an on-ground engine fire halted them in May.
May 21, 2014, 3:36 PM
- Bombardier's (BDRAF, BDRBF) biggest customer for the CSeries aircraft, Republic Airways (RJET), is reconsidering whether to follow through with a $3B jet order after a change in airline strategy.
- The 40 CS300 aircraft on order are no longer a top priority for RJET as it returns to its roots as a provider of regional flights for larger carriers, CEO Bryan Bedford says, adding to doubts about whether Bombardier can complete a deal valued first announced in 2010.
- Since then, Bombardier has had to postpone the debut of the model it sees as a mainstay of future revenue, and RJET has dropped plans to compete with major airlines by flying full-size jetliners such as the CSeries.
Dec. 6, 2012, 9:34 AMDelta Airlines (DAL) chooses Bombardier (BDRAF.PK) over Embraer (ERJ -5.3%) and orders 40 CRJ900 NextGen regional jets from the Canadian company, and takes an option to acquire another 30 in a deal that could be worth up to $3.29B. The initial value is $1.85B. The booking adds to orders worth billions of dollars that Bombardier received from Berkshire Hathaway's NetJets and VistaJet. | Dec. 6, 2012, 9:34 AM | Comment!
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