May 23, 2022

The Queens County Citizen

Complete Canadian News World

Bombardier confirms its results | Tap

Bombardier confirms its results |  Tap

The Montreal business jet maker chose to release its first-quarter results earlier this week, which came as no surprise in the early fiscal year performance released by Bombardier on Thursday morning.

Richard DufourRichard Dufour

A press release issued Thursday before the shareholders’ meeting confirms US $ 1.3 billion in revenue and US $ 19 million in operating revenue for the first three months of the year.

Bombardier delivered 26 jets in January, February and March and expects to deliver between 110 and 120 in total this year.

“The key point here is that Bombardier provides more evidence that it is taking the necessary steps to eliminate its balance sheet, adjust its costs and balance its operations to meet the growing demand for commercial jets,” commented l analyst Walter Sprocklin, at RBC.

Bombardier CEO Eric Martel is confident that he will be able to meet the short- and long-term goals given by the performance, emerging markets and emerging “programs”.

The goal is to increase the after-sales revenue ratio to 27% by 2075 and reduce the unit cost of Global 7500 aircraft by 50 to 20%.E And 100E Achieve flight delivery, and 400 million recurring savings by 2023.

“Through these actions, we are working to make Bombardier more capable, more profitable and more resilient,” commented Eric Martel.

Bombardier on Monday gave an early indication of its results, alleging that the lender was violating certain regulations governing the transportation sector and the sale of assets in the aerospace sector (regional jets and aerostructures division). Management said it was now seeking the consent of creditors to make changes to the eight loans.

READ  'Special cases' of COVID-19 have been confirmed in Chinook Mall, Calgary