Bombardier reports quarterly loss
Bombardier swung to a Q2 net loss as business jet revenue fell on lower production. The Montreal-based plane and train maker posted a net loss of US$490m for the quarter ended June 30, compared with a profit of US$125m a year earlier. Consolidated revenue fell 6.7% to US$4.31b. While revenue from commercial aircraft was up 28% at US$764m, business aircraft revenue was down 19% at $1.47b as it scaled back production. The company delivered 27 commercial and 42 business aircraft in the three months. During the quarter Bombardier agreed a US$1b investment by the Government of Quebec in return for a 49.5% equity stake in a newly created limited partnership. Brazil said last month it may launch a trade challenge against Canada over state funding of the CSeries.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-08-08/general/bombardier-reports-quarterly-loss
https://portal.staralliance.com/cms/logo.png
Bombardier reports quarterly loss
Bombardier swung to a Q2 net loss as business jet revenue fell on lower production. The Montreal-based plane and train maker posted a net loss of US$490m for the quarter ended June 30, compared with a profit of US$125m a year earlier. Consolidated revenue fell 6.7% to US$4.31b. While revenue from commercial aircraft was up 28% at US$764m, business aircraft revenue was down 19% at $1.47b as it scaled back production. The company delivered 27 commercial and 42 business aircraft in the three months. During the quarter Bombardier agreed a US$1b investment by the Government of Quebec in return for a 49.5% equity stake in a newly created limited partnership. Brazil said last month it may launch a trade challenge against Canada over state funding of the CSeries.<br/>
