|Bid||0.4450 x 0|
|Ask||0.4500 x 0|
|Day's Range||0.4400 - 0.4650|
|52 Week Range||0.3800 - 2.4600|
|Beta (5Y Monthly)||2.22|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Dec 10, 2014|
|1y Target Est||0.42|
Regional jet maker Embraer reported weak first-quarter 2020 results Monday morning—no surprise, given that the commercial-aviation value chain has been hammered by the Covid-19 pandemic.
MHI RJ Aviation Group launches as Mitsubishi Heavy Industries Ltd. closes acquisition of CRJ Series Program from Bombardier Inc.
Bombardier (BBD-B.TO) confirmed today the closing of the previously announced sale of the CRJ Series aircraft program to Mitsubishi Heavy Industries, Ltd (MHI) (7011.T) for a cash consideration of approximately $550 million, subject to post-closing adjustments and the assumption of liabilities by MHI related to credit and residual value guarantees and lease subsidies amounting to approximately $200 million. Under the agreement, the Corporation’s net beneficial interest in the Regional Aircraft Securitization Program (RASPRO), which is valued at approximately $170 million, has been transferred to MHI. Through this sale, MHI acquires the maintenance, support, refurbishment, marketing, and sales activities for the CRJ Series aircraft, including the related services and support network located in Montréal, Québec, and Toronto, Ontario, and its service centres located in Bridgeport, West Virginia, and Tucson, Arizona, as well as the type certificates.
Bombardier (BBD-B.TO) today released its 2019 Activity Report, reaffirming its commitment to sustainability and highlighting the Company’s progress over the past year towards achieving its environmental, social and governance (ESG) goals. Recognized among Corporate Knights’ Global 100 Most Sustainable Corporations in the World, Bombardier is committed to developing efficient, cost-effective and innovative products, efficiently managing resources in its operations and across its supply chain, and transparently and annually reporting on its progress. The Company also believes that the manner in which it delivers its results is as important as the results it achieves, which includes maintaining the highest ethical standards, creating a people-centric and healthy work environment and supporting the communities where it operates.
(Bloomberg) -- Bombardier Transportation is seeking to ease terms on U.K. train contracts after social-distancing measures slowed production, according to a person familiar with the matter.Discussions with the government are ongoing as the Derby, England-based arm of Canada’s Bombardier Inc. looks to avoid paying penalties for the late delivery of trains, the person said asking not to be identified as the discussions are confidential.The trainmaker said in a statement it wants to “offset the short-term costs of the virus” but is not seeking “taxpayer support.” The Times newspaper first reported the negotiations.The government has “put in place unprecedented levels of support to help businesses get through this crisis,” a treasury spokesperson said in an emailed response, declining to discuss individual cases. Bombardier, which is selling its rail business to French train maker Alstom SA, has contracts to build trains for multiple rail franchises in the U.K. as well as London’s long-delayed Crossrail subway line.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
SpaceJet regional aircraft maker, Mitsubishi Aircraft, said it is closing overseas operations that employ hundreds of people and may cut staff at home after its parent company slashed the development budget for Japan's first commercial aircraft in a century. The move, which comes as the coronavirus pandemic wreaks havoc on the aviation industry, casts doubt over the future of Japan's commercial aircraft ambitions and will at the very least delay certification of Mitsubishi's first plane, the M90. Mitsubishi Aircraft has already shelved plans for a shorter variant, the M100, seen as key to winning orders in the lucrative U.S. market.
Canada's business jet maker Bombardier said on Wednesday it does not expect the COVID-19 pandemic to delay the sale of its rail division to France's Alstom. Alstom expects to close its deal with Bombardier, which is subject to regulatory clearance, in the first half of 2021.
Bombardier Aviation and Finnish charter operator Jetflite today revealed details of how a freshly delivered Challenger 650 business jet was immediately pressed into service to repatriate dozens of patients impacted by COVID-19 as airports and borders around the world shut down. True to its reputation for tried-and-true performance, the Challenger 650 aircraft performed flawlessly straight out of delivery, completing its first 100 hours in just 14 days. The aircraft, configured for executive charter service, was delivered to long-time Bombardier customer Wihuri Group, a large Finnish industrial conglomerate, on March 26, 2020.
Mitsubishi Heavy Industries said it was halving the annual development budget for Japan's first regional jet in half a century, the M90 SpaceJet, as the coronavirus pandemic squeezes profits. "We have to reconsider how we move forward," Mitsubishi Heavy Chief Executive Officer Seiji Izumisawa said during a press briefing to announce the company's latest results. The SpaceJet budget this business year will be around half of the 141 billion yen it spent in the year that ended March 31, he said.
Alstom plans to stick to the terms of its previously-agreed rail deal with Bombardier , Chairman and Chief Executive Henri Poupart-Lafarge told a conference call on Tuesday. In February, the French TGV high-speed train maker Alstom agreed to buy the rail division of Bombardier for up to 6.2 billion euros ($6.7 billion) in a cash-and-shares deal aimed at creating the world's No. 2 train manufacturer and a challenger to Chinese leader CRRC Corp. Alstom added on Tuesday that it hoped to close its deal with Bombardier, which is subject to regulatory clearance, in the first half of 2021.
(Bloomberg) -- Bombardier Inc. is bracing for a drop of at least 30% in sales of private jets -- the heart of its business -- as the coronavirus pandemic pummels demand this year.The company’s business-aircraft division already suffered “a significant slowdown in order intake” in March, Bombardier said in a statement Thursday as it reported results. While the order book for the marquee Global 7500 is “largely intact,” the manufacturer is cutting spending and deferring discretionary investments to shore up profitability at lower production levels.The weak demand outlook is raising the pressure on new Chief Executive Officer Eric Martel as the company exits its operations in commercial planes and rail equipment. Bombardier burned through $1.6 billion of free cash flow in the first quarter, with as much as half of that coming from slow orders for planes and trains, temporary factory shutdowns and the inability to deliver aircraft amid government travel restrictions.Bombardier tumbled 6.6% to 50 Canadian cents at 11:51 a.m. in Toronto. The shares fell 73% this year through Wednesday, the fourth-worst drop on Canada’s S&P/TSX Composite Index.Second-Quarter NadirBusiness activity will hit a low point in the current quarter “before gradually recovering in the second half,” Bombardier said.The company’s rail division, which is being sold to France’s Alstom SA, received a first-quarter equity injection of $386 million from the Caisse de Depot et Placement du Quebec, a longtime investor. The sale to Alstom is proceeding well and is still expected to close in the first half of next year, Bombardier executives said on a call with analysts.The sale of the CRJ regional-jet line to Mitsubishi Heavy Industries Ltd. will close June 1, Bombardier said, echoing a statement by the Japanese company. Bombardier already sold its stake in Airbus SE’s A220 jetliner program to the European planemaker. Bombardier invested more than $6 billion in developing the A220, which was originally known as the C Series.Bombardier’s adjusted loss widened to 10 cents a share, worse than the 7-cent average shortfall expected by analysts. Sales climbed 5% to $3.69 billion.CEO’s DebutBombardier is in talks with countries where it has operations in case temporary liquidity needs arise, Martel said on the call. His first weeks on the job have been focused on managing costs and cash flow while talking to customers and suppliers to confirm orders and reset delivery schedules.He outlined a set of priorities that include completing asset sales, becoming a more predictable company and aligning production with market demand to generate a steadier cash flow. He also pledged to define a “clear vision” for the company.Martel, who used to head the business jets division before leaving Bombardier for a few years to head Canada’s biggest electric utility, Hydro-Quebec, said he hasn’t seen many order cancellations so far. That’s a contrast with December 2014, when cancellations started piling up after oil prices collapsed, he said.“It is moving at a slow pace, there’s no decision being made,” Martel said, adding that customers have asked for information on plane availability and timing as they assess the duration and impact of the pandemic. “We think that when we have more visibility on the pandemic that the activity level will be restarting.”Bigger JetsDemand for bigger private jets seems more solid than for smaller aircraft, Martel said.The Montreal-based company, which suspended its financial forecast in March, said it would offer updated projections when it has greater visibility on the pandemic’s impact.“We have limited exposure today on the light jet versus either 2008 or even 2014,” he said. “We always felt going into those crises that the large-segment market was much more robust. And today, as you know, we are much more dependent on that segment, which makes me believe that our backlog will remain much more solid.”(Updates with CEO comments starting in ninth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Rail technology leader Bombardier Transportation has received a Letter of Award from India’s National Capital Region Transport Corporation (NCRTC) to build and deliver regional commuter and intracity transit trains with comprehensive maintenance services for the Delhi-Ghaziabad-Meerut semi-high-speed rail corridor under Phase 1 of the Regional Rapid Transit System (RRTS). The project scope involves supplying 30 regional commuter trainsets of six cars each and 10 intracity mass transit trainsets of three cars each, together with 15 years of rolling stock maintenance.
Business jet deliveries are expected to fall this year as the pandemic keeps people under a lockdown, disrupts global travel and slows down economic activity around the world. "Bombardier has begun the gradual resumption of manufacturing operations at both Aviation and Transportation necessary to deliver on our strong rail backlog and to continue the production ramp-up of the Global 7500," Chief Executive Eric Martel said in a statement. The company said its aviation unit suffered a significant slowdown in orders in March, leading to a $13.6 billion business aircraft backlog at the end of the quarter.
Bombardier Inc posted a 35.7% fall in adjusted core profit in the first quarter on Thursday as the Canadian plane and train maker was pounded by delayed deliveries of its business jets due to the COVID-19 pandemic. Business jet deliveries are expected to fall this year as the pandemic keeps people under lockdown, disrupts global travel and slows down economic activity around the world. "Bombardier has begun the gradual resumption of manufacturing operations at both Aviation and Transportation necessary to deliver on our strong rail backlog and to continue the production ramp-up of the Global 7500," Chief Executive Eric Martel said in a statement.
Consolidated revenues of $3.7 billion, increasing by 5% year-over-year; consolidated adjusted EBIT(1) of $60 million, down 65% year-over-year, $156 million of reported EBIT;.
Mitsubishi Heavy Industries Ltd. and Bombardier Inc. have agreed on a June 1, 2020 closing date for the transaction pertaining to the acquisition of Canadair Regional Jet Program
MONTREAL, May 06, 2020 -- Bombardier (TSX: BBD.B) will publish its financial results for the first quarter ended March 31, 2020 on Thursday, May 7, 2020. On May 7 at 8:00.
Canada's main stock index fell on Friday on U.S. President Donald Trump's threat to slap new tariffs on China over the coronavirus crisis, and as data showed Canadian manufacturing activity slumped to a record low in April. Trump said late on Thursday his trade deal with China was now of secondary importance to the pandemic, as his administration crafted retaliatory measures over the outbreak. * At 09:39 a.m. ET (13:39 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 181.94 points, or 1.23%, at 14,598.8.
MONTREAL, April 29, 2020 -- Bombardier (TSX: BBD.B) will publish its financial results for the first quarter ended March 31, 2020 on Thursday, May 7, 2020. On May 7 at 8:00.
Bombardier (BBD-B.TO) today announced that it has begun the process of recalling most of its Canadian based employees that were placed on furlough following government mandates enacted to slow the spread of COVID-19. Nearly 11,000 employees are expected to be back to work within the next few weeks across our Aviation and Transportation segments and Bombardier’s Corporate Office. Return-to-work schedules will vary by site and be subject to new procedures to ensure employee health and safety.
Quebec, the Canadian province hit hardest by the coronavirus outbreak, on Tuesday said it would slowly reopen its economy in May while keeping some social restrictions to avoid possible flare-ups. "Our challenge is to gradually restart the economy without restarting the pandemic," Premier Francois Legault told a briefing. Quebec will start with the civil engineering and road construction sector, factories and some stores while watching data on new infections.
Quebec, the Canadian province hit hardest by the coronavirus outbreak, is set on Tuesday to announce plans for restarting its economy, paving the way for companies like Bombardier Inc to gradually reopen key facilities. There have been 49,025 confirmed cases in Canada.
The company said it would restart train production at Derby and heavy maintenance at Ilford from April 14, and resume some operations at Crewe from April 15. The Canadian train maker also said about forty employees had started work at its Bruges site in Belgium, which has been closed since March 16.
Bombardier is taking early steps to revive assembly of its most lucrative business jets after production was halted for weeks because of the coronavirus outbreak, even as the pandemic risks sapping demand for corporate aircraft. Bombardier will bring some employees back to its Toronto plant on Monday for pre-flight activities to support the resumption of operations there on April 27, company spokeswoman Anna Cristofaro said by email. "Bombardier continues to take the necessary steps and precautions to safeguard the health of all its employees, and we remain in close contact with public health officials," Cristofaro said.
European hedge funds struggled to navigate the coronavirus-induced extreme market volatility during March, with many down by double-digits in the space of a few weeks as short-selling bans hampered their strategies. Regulators in France, Italy, Belgium and Spain ordered temporary short-selling bans to stop investors betting on a fall in the share price of companies ranging from Spanish bank Santander to Air France-KLM and Italian automaker Fiat Chrysler. Short-selling is a strategy often used by so-called 'event-driven' or 'merger-arbitrage' hedge funds that bet on takeover or merger deals, reducing their risk by shorting, or selling, the acquirer and buying the target company.