{{ currentBoardShortName }}
  • Markets
  • Indices
  • FX
  • Energy
  • Metals
  • Live
Markets
As of: {{timeStamp.date}}
{{timeStamp.time}}

Markets

{{ currentBoardShortName }}
  • Markets
  • Indices
  • FX
  • Energy
  • Metals
  • Live
{{data.symbol | reutersRICLabelFormat:group.RICS}}
 
{{data.netChng | number: 4 }}
{{data.netChng | number: 2 }}
{{data | displayCurrencySymbol}} {{data.price | number: 4 }}
{{data.price | number: 2 }}
{{data.symbol | reutersRICLabelFormat:group.RICS}}
 
{{data.netChng | number: 4 }}
{{data.netChng | number: 2 }}
{{data | displayCurrencySymbol}} {{data.price | number: 4 }}
{{data.price | number: 2 }}

Latest Videos

{{ currentStream.Name }}

Related Video

Continuous Play:
ON OFF

The information you requested is not available at this time, please check back again soon.

Feb 16, 2017

Bombardier misses on weak demand for trains, business jets

A Bombardier plant in Montreal

Security Not Found

The stock symbol {{StockChart.Ric}} does not exist

See Full Stock Page »

Canadian plane and train maker Bombardier Inc reported lower-than-expected revenue, hurt by weak demand in its rail and business aircraft units.

The company said revenue in the business aircraft division, which makes the Learjet, Global and Challenger business jets, fell 20.9 per cent to $1.65 billion in the fourth quarter.

Bombardier delivered 163 business jets in 2016, down 36 from a year earlier.

Revenue in the transportation business - the train-making division - fell 10 per cent to $1.95 billion in the quarter. The company's order intake in the business fell 3.4 per cent to $8.5 billion in 2016.

Bombardier, which has struggled in recent years with cost overruns in its CSeries commercial jet program, said it delivered 86 commercial aircraft in 2016, compared with 76 in 2015.

The Canadian government agreed last week to provide aid for Bombardier's CSeries jet and the Global 7000 business jet programs.

Net loss attributable to Bombardier shareholders narrowed to $251 million, or 12 cents per share, in the fourth quarter ended Dec. 31, from $679 million, or 31 cents per share, a year earlier. Excluding items, the company lost 7 cents per share.

Bombardier took charges of $30 million in the latest quarter compared with $673 million in the prior-year quarter.

Montreal-headquartered Bombardier, which is in the middle of a five-year turnaround plan to improve results, reported a 12.7 percent fall in revenue to $4.38 billion.

Analysts on average had estimated a three cent loss on revenue of $4.64 billion, according to Thomson Reuters I/B/E/S.