Sentences with phrase «bombardier cs100»

But Air Canada's interest in buying 45 CS300 aircraft (along with the option to purchase up to 30 CS100 planes, a slightly smaller aircraft) marks an end to a 17 - month - long dry spell in which Bombardier was unable to drum up any serious interest.

Bombardier said it is on track to achieve free cash flow breakeven for the full year.

Amid the bad news, Bombardier ended its nearly 18 - month sales drought for the CSeries with a letter of intent with Air Canada for the purchase of 45 CSeries 300 planes, with an option to buy up to 30 more.

After all, financial aid from the government would, in some ways, serve to enrich the Beaudoin - Bombardier family, which maintains voting control of the company.

Bombardier employee working on the fuselage of a Q - 400 turboprop.

May 3 - Canadian plane and train maker Bombardier Inc has agreed to sell its Toronto aircraft assembly site to a pension fund as it strives to raise extra cash under a five - year recovery plan.

The desire to maintain multiple voting shares might have something to do with why Bombardier didn't get the full $ 1 - billion in aid it was originally seeking from the federal government.

Clearly people are anxious to know what's next for Bombardier,» Heymann said.

Bombardier said it hopes Ottawa will come through on its request for financial assistance for the CSeries, just as the Quebec government has done in providing US$ 1 billion in support.

The CSeries is buoyed right now by Bombardier's transportation wing, which is comparatively healthy.

It was great news because Bombardier will assemble the planes in this country and because 54 % of the aircraft's components are Canadian - made.

CEO Alain Bellemare said he believes the efforts to cut costs will help revive Bombardier, which has appealed for federal aid as it struggles to sell its signature CSeries passenger jet.

Boeing's tweaked 737 also would help fight back competition from Bombardier Inc's fledgling CSeries aircraft, which appears poised to win a large order from Delta Air Lines Inc..

The first is that the company has to deliver its next slate of planes on time; AirBaltic is scheduled to receive 13 and Swiss International Air Lines is expecting 30 from Bombardier this year.

The agreement with Air Canada was announced by Bombardier at the same time it said it would cut its workforce by 7,000 positions over two years, including 2,000 contractors.

«We are at the right place and I feel good about our ability to turn Bombardier around given these actions.»

MONTREAL — Bombardier is implementing one of the deepest job cuts in its history by eliminating 7,000 positions — including more than a third in Canada — though it took pains Wednesday to instead train the public spotlight on a large CSeries plane order with Air Canada.

The layoffs will be partly offset by hiring in certain areas, particularly as production of the CSeries ramps up, Bombardier said.

(CEO Alain Bellemare has instead emphasized the company's improved fiscal position the past few months, in effect pointing out Bombardier is not quite as needy as it once was.)

In the case of Bombardier, the controlling families hold a 53 % voting stake through Class A shares.

During his tenure as CEO, he presided over a roughly 70 % decline in the company's share price, not to mention cost overruns and delays with the respect to Bombardier's C Series program.

About 3,200 of the 7,000 jobs to be eliminated will be at Bombardier Transportation, the company's rail division.

The investment will purchase 20 Bombardier aircraft that will form the core fleet of flymojo, the name of the new carrier.

Bombardier's Michele Arcamone (left) with Westjet CEO Gregg Saretsky (Photo: Larry MacDougal / Westjet)

But there are still two major hurdles for Bombardier to overcome to secure more orders.

Although Bombardier hired Alain Bellemare as CEO in 2015, the company's dual - class share arrangement means control remains with the founding families.

But when the feds announced a $ 372 - million loan to Bombardier this week, the dual - class structure remained intact.

But the company's loss - making commercial aircraft segment, which includes the CSeries, reported a 12 percent drop in revenue and Bombardier used $ 721 million of its available cash in the quarter - more than last year.

May 3 - Canadian plane and train maker Bombardier Inc has agreed to sell its Toronto aircraft assembly site to a pension fund as part of efforts to raise extra cash under a five - year recovery plan.

MONTREAL — Air Canada has signed a letter of intent to purchase 45 of Bombardier's CS300 aircraft with options for an additional 30 planes.

It was great news because Bombardier's Q400 turboprop aircraft bested foreign competitors to win the contract.

Control of the company rests with the Bombardier and Beaudoin families, who, if the company's current situation is any guide, have not been the most astute owners.

Bombardier is in talks with the federal government to secure even more financial aid, and the market believes the company won't be allowed to fail.

Prior to Air Canada's interest, Bombardier had secured 243 firm orders, just shy of its target of 300 by the second quarter of 2016.

The U S International Trade Commision eventually found that Bombardier had done no harm to Boeing's business and scrap the proposed tariff.

«We continue to believe that Bombardier is attractive at current levels and represents a good long ‐ term buying opportunity,» he says.

Its new regional carrier, Encore, began service this year with four Bombardier Q400 turboprops, and will add roughly one aircraft to its fleet every month through to 2015.

The Calgary - based carrier is facing increased competition from Air Canada (TSX: AC.B), which recently announced increased frequencies in Western Canada with its own fleet of Bombardier Q400s, operated by Jazz.

It will be flying Bombardier Q400s with 78 seats, whereas Porter and Air Canada max out at 70 and 74.

The regional carrier caters primarily to business travellers between Toronto, Ottawa and Montreal, but since launching in 2006, Porter has grown to service 19 destinations, mostly concentrated in eastern Canada and the U.S.. By 2016, it wants to fly Bombardier CSeries jets to more far - flung locales, including Calgary, Vancouver, Los Angeles, and Miami.

Doerkson writes that Bombardier's executives think more orders will come soon.

And when Tellier left CN to run Bombardier in 2003, Harrison proved he had what it takes to efficiently run boardrooms as well as trains.

The airline will add Fort St. John, B.C. to its network and use the first two 78 - seat Bombardier Q400s on routes between Vancouver and Victoria, and Calgary to Nanaimo, B.C.

Its handful of Bombardier Q400 planes will target a few destinations initially, such as Fort St. John and Nanaimo in B.C. along with Saskatoon, but that's just the beginning.

About 300 employees will be hired by year - end to operate the first seven Bombardier aircraft.

It's been nearly two years since Bombardier's (TSX: BBD.B) stock began to tumble.

The US Department of Commerce threatened to levy a 299.45 % tariff on the C Series jets after Boeing alleged Bombardier used Canadian government subsidies to lower its prices for Delta.

There are hints that the White House is ready to resume old battles, such as United Parcel Service's annoyance at having to compete with Canada Post's courier service or Export Development Canada's assistance to Bombardier and other exporters.

The likes of Canada's Bombardier and Brazil's Embraer will look to defeat each other in the smaller - sized jet market, but the headline battle in commercial aviation is conducted between Europe's Airbus and the U.S.» Boeing.

Bombardier's aerospace rival has eaten away at its leadership in regional jets and is developing an updated offering to partially compete with the C Series.