Bombardier Reports Second Quarter 2016 Results
- Reaffirms full year guidance for 2016
- Reports margin expansion at Business Aircraft and Transportation for Q2
- Improved cash performance in line with turnaround plan
- C Series enters service; begins revenue generation
Montréal, August 5, 2016 – Bombardier (TSX: BBD.B) today reported its second quarter 2016 results and reaffirmed its full year guidance.
“We continue to make very good progress executing our turnaround plan,” said Alain Bellemare, President and Chief Executive Officer, Bombardier Inc. “We delivered on our financial commitments, achieved our program milestones and positioned Bombardier to meet both our full year guidance and 2020 goals.”
Highlighting the company’s recent progress is the C Series entry-into-service and the certification of the CS300 aircraft - the larger version of the C Series. These significant milestones reflect the completion of the C Series’ development phase and transition into production ramp-up. As the industry's first clean-sheet designed narrowbody aircraft in nearly 30 years, the C Series offers the best passenger experience, environmental performance and operating costs in the 100- to 150-seat class.
“This was a pivotal quarter for the C Series as both variants are now certified and the program has begun generating revenue,” Bellemare continued. “Having firmly placed Bombardier on a path to profitable earnings growth and cash generation, we remain focused on delivering customer and shareholder value by improving productivity, executing flawlessly on our programs and applying a disciplined and proactive approach to our portfolio.”
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