Investing.com - Financial Markets Worldwide
💙 🔷 Not impressed by Big Tech in Q3? Explore these Blue Chip Bargains insteadExplore for free

UPDATE 1-Bombardier to sell up to 125 CSeries jets to Delta, posts Q1 loss

Published 2016-04-28, 06:32 a/m
© Reuters. UPDATE 1-Bombardier to sell up to 125 CSeries jets to Delta, posts Q1 loss
DAL
-
BBDb
-
AC
-

(Adds details)
April 28 (Reuters) - Bombardier Inc BBDb.TO announced on
Thursday a much-anticipated order from Delta Air Lines (NYSE:DAL) DAL.N
for up to 125 of its CSeries passenger jets, throwing a lifeline
to the Canadian company which also reported a quarterly loss.
Bombardier said Delta's firm order for 75 CS100 aircraft,
with options for an additional 50, was worth about $5.6 billion
based on the list price. Deliveries are scheduled to begin in
2018, the Quebec-based company said.
The CSeries program, which is years late and billions of
dollars over budget, nearly sank Bombardier last year but a
flurry of cash injections and deals have helped to stabilize the
company.
The Delta order, along with Air Canada's AC.TO commitment
early this year to buy 45 CSeries jets, has helped improve
sentiment around the program and boosted Bombardier's share
price.
The program, however, is not expected to turn a profit until
about 2020.
The embattled Canadian plane and train maker reported a
bigger-than expected first-quarter loss of 3 cents per share,
compared with the average analyst estimate for a loss of 1 cent
per share, according to Thomson Reuters I/B/E/S.
Revenue fell nearly 11 percent to $3.91 billion.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.