Home / Tag Archives: Bombardier

Tag Archives: Bombardier

Bombardier Inc in talks with Canadian government on CSeries investment: CEO


LAS VEGAS — Bombardier Inc is in talks with the new Canadian government about a further cash infusion into its struggling CSeries jet program, which the planemaker expects to turn a profit by around 2020, according to Chief Executive Alain Bellemare. The long-delayed single-aisle passenger jet program is already billions …

Read More »

Bombardier Inc agrees to sell 20 Challenger 350 business jets to Flexjet in US$544-million deal


LAS VEGAS — Bombardier Inc said on Tuesday it has agreed to sell 20 of its Challenger 350 business jets to Flexjet LLC, in a deal valued at about $544 million based on list prices of the planes. Flexjet, which has signed a memorandum of understanding with Bombardier, is owned …

Read More »

Bombardier Inc gets boost to balance sheet with $1.5-billion from Quebec pension fund


Quebec’s pension fund has been guaranteed “bond-like protection with the upside of equity” in exchange for a US$1.5-billion investment in Bombardier Inc.’s train-making business. The deal, announced Thursday, gives Bombardier a “nice safety net” while also guaranteeing a healthy minimum annual return of 9.5 per cent for the Caisse de …

Read More »

Scotiabank downgrades Bombardier Inc on lingering CSeries concerns


The US$2.5 billion that Bombardier Inc. has raised from the Quebec government and its pension fund will relieve cash pressure, but will not help the company’s battered share price, says Scotiabank. The bank cut its rating on Bombardier to sector underperform from sector perform and lowered its 12-month price target …

Read More »

Bombardier Inc rejects Toronto Transit Commission request for public explanation of streetcar delays


No Bombardier Inc. executives will attend Monday’s Toronto Transit Commission board meeting despite the TTC’s request that the company’s CEO appear in person to explain persistent streetcar production delays. “There’s no provision (in the contract) that says we have to go discuss this publicly before their board,” Bombardier spokesman Marc …

Read More »

Bombardier Inc teams up with French engineering giant Alstom to win $3.57 billion contract with Belgian railways


PARIS — A Bombardier-Alstom consortium said on Friday it signed a 3.3 billion euro ($3.57 billion) contract with Belgian railway operator SNCB to provide 1,362 double-deck train cars. The order is worth 2.1 billion euros for Toronto-listed Bombardier, while French engineering company Alstom will get the rest.

Read More »

Bombardier Inc’s Pierre Beaudoin expected to step down as chairman, source says


WASHINGTON/MONTREAL — Pierre Beaudoin is expected to step down as executive chairman of Canada’s Bombardier Inc in early 2016, according to a source familiar with discussions about the issue, a move that could erode family control of the plane and train maker. The source, who was not authorized to speak …

Read More »

Bombardier Inc CSeries jet gets green light for service from Transport Canada


MIRABEL, Que. — After delays and cost overruns, Bombardier’s US$5.4-billion CSeries passenger jet has been given the green light to enter into commercial service. The largest plane built by the Montreal-based manufacturer was formally certified on Friday by Transport Canada. Transport Minister Marc Garneau announced the go-ahead during a news …

Read More »

Bombardier Inc to start direct sales to customers in Middle East, incur $278M charge in Q4


Canadian planemaker Bombardier Inc said it would start selling directly to customers in the Middle East and North Africa and that it would end a contract with its exclusive sales representative in the region. Bombardier will incur charges of $278 million in the fourth quarter due the move and on …

Read More »

Bombardier Inc’s CSeries hopes dashed by United Airlines, but Delta Air Lines Inc remains potential buyer


Two days after the CEO of Delta Air Lines Inc. said the company is taking a “serious look” at Bombardier Inc.’s CSeries jetliner, another major U.S. carrier dashed hopes that it too could be a linchpin customer for the troubled aircraft. United Airlines announced Thursday that it will buy 40 …

Read More »