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.
Textron Aviation has marked a key milestone in the development of the Cessna Citation CJ4 Gen3 with the rollout of the program’s first production aircraft. The achievement brings the next-g...
Aviation Capital Group, the Newport Beach, California-based global aircraft asset manager, has signed a firm order for 75 additional Airbus A320neo Family aircraft, bringing its cumulative orders for...
The Tennessee Valley Authority is demonstrating the real-world value of the Tecnam P2012 Special Mission Platform (SMP), which has become a vital tool for monitoring and maintaining its...
Gulfstream Aerospace has enhanced the capabilities of its Customer Support Performance Analytics program, further strengthening its ability to transform aircraft data into actionable insight...
