Bombardier: cuts loss, new measures announced

(CercleFinance.com) - Bombardier on Thursday published reduced losses for FY 2020 and presented new measures intended to improve its productivity and profitability.


The Canadian manufacturer - now refocused on business jets - indicates that its net loss for the past year has been sharply reduced to 568 million dollars, from a loss of 1.6 billion dollars in 2019.

Its adjusted loss nevertheless stands at 1.1 billion dollar, compared to 406 million dollars reported in 2019.

Revenue fell 13% to less than 6.5 billion dollars, although revenue from business aircraft activities rose 3% to 5.6 billion dollars, with 114 planes delivered.

The market didn't like this one but it seems - the B share is down almost 10% in early trading in Toronto.

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