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Thursday, October 29, 2015

Bombardier Announces Dipping Revenues, Future C Series Funding

Juliet Van Wagenen

Bombardier C Series aircraft
Bombardier C Series aircraft. Photo: Bombardier

[Avionics Today 10-29-2015] Bombardier reported sinking revenues, coming in at $4.1 billion for the quarter, down from $4.9 billion during the same period last year, in its financial results for the third quarter 2015. Net loss totaled $4.9 billion due mainly to items related to impairment charges on C Series and Learjet 85 program tooling, compared to net income of $74 million for the same quarter last year.

The overall backlog reached $61.8 billion for the quarter, compared to $69.1 billion in December of last year.

The company also announced that the Quebec government will invest $1 billion into the C Series aircraft program, which is on the verge of certification.

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