Canadian plane and train maker Bombardier Inc said lower production of its business jets — Global 5000 and Global 6000 — will drive down revenue in 2016.
The company, which is scheduled to hold an investor day on Tuesday, said it expects its liquidity position to be strong in 2016, helped by investments from Quebec pension fund Caisse de depot et placement du Quebec and the government of Quebec.
Bombardier said 2016 earnings before interest and tax will also be hurt due to the CSeries program ramp-up.
The business jet division has been a key source of cash flow for the company, which is spending heavily to develop the narrow-body, medium-range CSeries.
But in May, Bombardier said it would cut production of Global 5000 and 6000 jets, citing weak demand from China, Latin America and Russia.
The Quebec government agreed to inject $1 billion into the company's CSeries program, followed by Caisse saying last week that it will buy a 30 percent stake in Bombardier's rail business for $1.5 billion.
Africa’s rapidly expanding urban youth population, rising middle class and accelerating infrastructure development are set to propel passenger traffic growth of nearly 6% per year through 2045,...
With the acquisition of two Tecnam P2006T aircraft, Epic Flight Academy elevates its training environment to a new level of modernity. The aircraft’s sleek airframe, cutting‑edge avionics, and e...
Textron Aviation announced that Starlink’s high‑speed internet solution is now available for Hawker 700, 800 and 900 series aircraft, following the Federal Aviation Administration’s a...
La Compagnie, the 100% Smart Business Class airline, today announced its intention to inaugurate a new nonstop transatlantic route linking Newark Liberty International Airport (EWR) and Düsseldor...
