50 SKY SHADES - World aviation news

Bombardier temporary suspends Canadian operations; suspends 2020 financial guidance

Download: Printable PDF Date: 27 Mar 2020 06:31 category:
Publisher:
Bombardier temporary suspends Canadian operations; suspends 2020 financial guidance - Manufacturer publisher
Tatjana Obrazcova
Country: Canada Aircraft: Airplanes

Bombardier announced that in support of the recent mandates from the Governments of Quebec and Ontario to help slow the spread of the COVID-19 pandemic, it will suspend all non-essential work at most of its Canadian based operations starting this evening at 11:59 pm until April 26, 2020, inclusively. This suspension includes Bombardier’s aircraft and rail production activities in the provinces of Quebec and Ontario.

Employees impacted by these temporary shutdowns will be placed on furlough, as will corporate office employees whose support functions are less critical in the short-term. During this furlough period, Bombardier’s CEO and senior leadership team will forgo their pay, and the Chairman and members of Bombardier’s Board of Directors have agreed to forgo board compensation for the remainder of 2020.           

Bombardier is also suspending its 2020 financial outlook as it evaluates the impact of temporarily closing its Canadian operations, as well as other actions being taken in response to the COVID-19 pandemic. 

“Since the corona virus outbreak, the company has been focused on keeping our employees safe, serving our customers to the best of our ability during these difficult times and taking the necessary actions to protect our business for the long term,” said Pierre Beaudoin, Chairman of the Board of Directors, Bombardier Inc. “In addition to the actions announced today, Bombardier has cut all discretionary spending, is continuing the work on closing the previously announced transactions and is pursuing additional measures to enhance liquidity.”



Loading comments for Bombardier temporary suspends Canadian operations; suspends 2020 financial guidance...


Recommended

AviaAM Leasing racquired Boeing 747-400F nose-loader liveried and operational on behalf of Magma Aviation

AviaAM Leasing announced the purchase of a Boeing 747-400F nose-loader aircraft which has already started commercial operations on behalf of Magma Aviation. The aircraft – which is a p...

Rolls-Royce gives updates on Trent XWB

Rolls-Royce has identified indications of wear in the Intermediate Pressure Compressor (IPC) of a small number of engines during routine examinations of the engines following four to five years o...

New Bell manufacturing technology center unveiled

Bell  unveiled its new 140,000-square-foot Manufacturing Technology Center (MTC) in Fort Worth, Texas. The MTC is an innovative proving ground where Bell will test and refine technologies and pro...

Austrian Airlines calls for comprehensive COVID-19 testing to replace general landing and entry bans

Last Friday the Austrian Federal Government allowed landing bans for flights from 18 countries to expire. These bans did not apply in other EU member states. Nevertheless, the many different travel re...