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Tag Archives: Bombardier

Bombardier Inc needs to make a ‘strong business case’ if it wants federal aid: PM


OTTAWA — If Montreal-based aerospace manufacturer Bombardier Inc. needs federal money to aid its CSeries jet project, it’ll have to make a “strong business case,” Prime Minister Justin Trudeau told a meeting of labour leaders Tuesday. Trudeau was responding to questions at a closed-door Canadian Labour Congress gathering in Ottawa …

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First it was energy, now Valeant and Bombardier are spooking bond investors away from Canada


Canada’s bond market has been ravaged by the global commodities rout. So when a drugmaker and an aerospace company join the misery with even bigger losses, investors can’t be blamed for rushing to the exits. Six very strange things have been happening in financial markets around the world Market moves …

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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 …

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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 …

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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 …

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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 …

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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 …

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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.

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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 …

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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 …

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