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Bombardier cuts losses as revenue slips in 3Q
Bombardier cuts losses as revenue slips in 3Q
© Bombardier

| Staff writer 190 mots

Bombardier cuts losses as revenue slips in 3Q

Bombardier reported consolidated revenues of $3.7bn (–9.6%) for the third quarter of 2016, ending 30th September, while the net loss was cut to $94m — a fraction of the $4.9bn announced last year in the wake of massive charges related to the CSeries airliner and Learjet 85 bizjet. The company is in the midst of a turnaround plan that has involved substantial workforce reductions as it seeks to cut costs and boost productivity.

Commercial aircraft 3Q revenue rose 12%, to $538m, as deliveries rose slightly, to 16. But net orders dropped by nine aircraft during the quarter. The EBIT loss was trimmed to $107m, compared with –$3.6bn in 3Q 2015.

Business jet revenue fell 16%, to $1.3bn, as deliveries dropped to 36 units, compared with 43 in 3Q 2015. EBIT improved to $84m, compared with a $1.1bn loss the previous year. Since the end of 2015, the bizjet order backlog has declined 4%, to $16.5 bn.

For the full year, Bombardier is forecasting consolidated EBIT before special items between $350m and $400m. The Company says it expects revenue of approximately $16.5bn, at the bottom end of its previous guidance range.

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