|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||14.27 - 14.27|
|52 Week Range||12.79 - 16.71|
|Beta (3Y Monthly)||1.74|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
De Havilland signed a letter of intent with Dubai-based Palma during the Dubai Airshow, which runs between Nov. 17-21. If finalized, the deal would be a record single-order for the turboprop from a lessor, De Havilland vice president sales & marketing Philippe Poutissou told Reuters.
This month, we saw the Bombardier Inc. (TSE:BBD.B) up an impressive 32%. But that doesn't change the fact that the...
(Bloomberg) -- Bombardier Inc. agreed to sell a wing factory in Northern Ireland and two other facilities to Spirit AeroSystems Holdings Inc. for $500 million and the assumption of certain liabilities.The Belfast operation makes wings for Airbus SE’s A220 jetliner, an aircraft that cash-strapped Bombardier developed before handing control last year to the European planemaker. The deal also covers a plant in Morocco and a maintenance, overhaul and repair shop in Dallas, Bombardier and Spirit said Thursday.The sale caps Bombardier’s exit from the airliner business as Chief Executive Officer Alain Bellemare refocuses the manufacturer on building private jets and trains. For Spirit, buying the Belfast plant will expand its role as an Airbus supplier and lessen its dependence on Boeing Co. and the 737 Max, which has been grounded for more than seven months after two deadly crashes.“This acquisition is in line with our growth strategy of increasing Airbus content, developing low-cost country footprint, and growing our aftermarket business,” said Spirit CEO Tom Gentile. “The Bombardier operations bring world-class engineering expertise to Spirit and add to a strong track record of innovation, especially in advanced composites.”The acquired operations have more than 4,000 employees and expected 2019 revenue of about $1 billion, Spirit said. Their backlog of work includes supply contracts for the A220 and Airbus’s A320neo, as well as for business and regional jets made by Montreal-based Bombardier.The Canadian company’s shares surged 10% to C$1.75 at 9:41 a.m. in Toronto after advancing as much as 12% for the biggest intraday gain in almost five months. Bombardier jumped even after third-quarter financial results fell short of analysts’ expectations. Spirit, which also missed earnings estimates, climbed 3.7% to $81.99. As part of the agreement, Spirit said it would assume about $300 million in net pension liabilities, and approximately $290 million of government grant repayment obligations, bringing the total value of the transaction to $1.09 billion. That’s 10 times the estimated earnings before interest, taxes, depreciation and amortization of the acquired businesses, Spirit said.The Wichita, Kansas-based company will also make a cash contribution of about $130 million toward pension liabilities. The deal, which is subject to regulatory approval, is expected to close in the first half of next year.To contact the reporter on this story: Anurag Kotoky in New Delhi at firstname.lastname@example.orgTo contact the editors responsible for this story: Brendan Case at email@example.com, Susan WarrenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Bombardier Inc said on Thursday it would meet a key 2019 target and announced a deal worth more than $1 billion with Spirit Aerosystems, sending shares up nearly 7% despite reporting it burned more cash than expected. Montreal-based Bombardier is in the middle of a restructuring, shedding underperforming commercial plane programs to focus on more profitable business jet and rail units. The company spent more cash than expected during the third quarter while bringing its flagship corporate jet to market and amid project delivery delays in its key rail business, the company's largest division by revenue.
Bombardier Inc said on Thursday it would meet a key 2019 target and announced a deal worth more than $1 billion with Spirit Aerosystems , sending shares up nearly 7% despite reporting it burned more cash than expected. Montreal-based Bombardier is in the middle of a restructuring, shedding underperforming commercial plane programs to focus on more profitable business jet and rail units. The company spent more cash than expected during the third quarter while bringing its flagship corporate jet to market and amid project delivery delays in its key rail business, the company's largest division by revenue.
A $4 billion contract to build a metro in the Colombian capital was awarded to a consortium of China's Harbour Engineering Company, Xi'an Metro Company and Canada's Bombardier Inc, the government said on Thursday. Metro Director Andres Escobar said the consortium, known as Apca Transmimetro, will construct the project and operate it for 20 years. The group beat out the other international consortium that submitted bids, which consisted of Mexico's Carso Infraestructura y Construccion and Promotora de Desarrollo de America Latina, Spain's FCC Concesiones de Infraestructura and Ferrocarril Metropolita de Barcelona and France's Alstom SA.
MONTREAL/SEATTLE, Oct 3 (Reuters) - Spirit AeroSystems Holdings Inc has emerged as the front-runner to acquire Bombardier Inc's aerostructures facilities in Belfast and Morocco, two sources familiar with the matter told Reuters. A deal for the plants would be strategic for U.S. aerospace components maker Spirit, which is diversifying its customer base. Bombardier said in May it would sell off the two aerostructures operations, including a wing-making facility in Belfast, as the Montreal-based company sheds its commercial aviation businesses to focus on more profitable corporate jets and passenger rail cars businesses.
The following are the top stories on the business pages of British newspapers. - The John Lewis Partnership has launched a radical overhaul that means that the department store chain and Waitrose food business will no longer be run as two separate entities, resulting in the loss of 75 senior head office jobs and cost savings of 100 million pounds ($122.86 million). - The Financial Reporting Council is to investigate the auditing of Thomas Cook Plc's accounts by audit firm Ernst & Young in the year before the company's collapse.
A U.S. judge on Monday dismissed a lawsuit in which Comerica Inc sought millions of dollars from Bombardier Inc after the Canadian aircraft maker could not find buyers for four planes whose leases had expired. U.S. District Judge Paul Gardephe in Manhattan, who had dismissed an earlier version of the lawsuit in July 2017, said Comerica was still unable to show that the planes had been returned to the lessor, which its contracts with Bombardier required before payment could be made. The amount sought was blacked out in the amended complaint.
A consortium led by Bombardier Inc said on Monday it had won a contract to build and operate two monorail lines in Egypt for more than $4.5 billion. The project, for which Bombardier's rail division had emerged as the preferred bidder, would be its largest in recent years, with the company having a $2.85 billion share of the contract. Orascom Construction will have a share of about $900 million.
Bombardier Inc on Thursday lowered its full-year core earnings and free cash flow forecasts, and reported a quarterly loss, as the Canadian plane and train maker wrestles with challenges in its important rail division. Montreal-based Bombardier is in the middle of a broader restructuring, shedding underperforming commercial plane programs to focus on its more profitable business jet and rail units. The rail division is Bombardier's largest by revenue.
The company also lowered its full-year forecast for earnings before interest and taxation (EBIT), another closely watched measure, in the rail division. Bombardier shares were down 18% at C$1.86, well below the broader Canadian share index, which was down 0.2%.