Bombardier: posts loss on impairment charge

(CercleFinance.com) - Bombardier reported a quarterly loss on Thursday as it had to book a 1.
6 billion dollar impairment charge after selling its stake in the A220 partnership.

The Canadian train maker posted a loss of 1.7 billion dollars, or 74 cents a share, for the fourth quarter ended 31 December, compared with a profit of 55 million dollars, or two cents a share in the fourth quarter of 2018.

The loss is also due to additional charges and investments taken at its transportation unit to complete challenging projects, Bombardier said.

Yesterday the group announced its decision to sell its stake in the A220 partnership to partner Airbus, completing its exit from commercial aerospace.

The company is now actively pursuing options to accelerate deleveraging, and strengthen its balance sheet.

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