Welcome, Guest Login | Signup | Portfolio | Bookmark | Contact

Symbol Name
Click for Symbol Help

Bombardier to Delay CSeries Jet by Six Months

Wall Street Journal - Nov 7, 2012

Bombardier Inc. BBD.B.T -3.60%said Wednesday it is delaying the first flight and first delivery of its new CSeries jetliner by six months.

While the move was widely expected in the industry, Bombardier had remained tight-lipped about its schedule. The Montreal-based maker of planes and trains disclosed the delay as it reported mixed third-quarter results.

In early afternoon trading, Bombardier shares were down 14 Canadian cents, or 3.9%, at 3.47 Canadian dollars on the Toronto Stock Exchange. (The U.S. and Canadian dollars are trading roughly at parity.)

The CSeries is crucial to Bombardier if it is to remain competitive in commercial aviation. Bombardier is the world's biggest business-jet maker. But it is the world's third-largest jet manufacturer overall, well behind Boeing Co. BA -2.60%and European Aeronautic Defence & Space Co.'s EAD.FR -0.75%Airbus unit.

The CSeries brings Bombardier into direct competition with some of the smaller jets made by its two bigger rivals. Bombardier has pegged program development costs at some $2 billion, to be shared by suppliers and governments, including those of Canada and the U.K., where it has plants.

Read Full Article from Wall Street Journal

- Posted: 2012-11-07 14:37:59

 More Stock Investor Place Company News  
Alibaba's Jack Ma Is Moving On, With an IPO Looming
Pfizer’s Possible Unit Shuffle Triggers Breakup Concern
Lululemon Raises 4th-Quarter Guidance But Misses Expectations; Shares Down
Dell Shares Surge After Report of Possible Buyout
ARMZ Seeks Rest of Uranium One for $1.3 Billion; Won’t Raise Bid

 Stock Investor Place Company News Archive
January 2013
December 2012
November 2012
October 2012
September 2012
August 2012
July 2012
June 2012
May 2012
April 2012
March 2012
February 2012
January 2012
December 2011
November 2011
October 2011
September 2011
August 2011
July 2011
June 2011
May 2011
April 2011
March 2011
February 2011
January 2011
December 2010
November 2010
October 2010
September 2010
August 2010
July 2010
June 2010
May 2010
April 2010
March 2010
February 2010
January 2010
December 2009
November 2009
October 2009
September 2009
August 2009
July 2009
June 2009
May 2009
April 2009
March 2009
February 2009
January 2009
December 2008
November 2008
October 2008
September 2008
August 2008
July 2008
June 2008
May 2008

Featured Companies | My Place | News | Markets | Big Board | Blogs | Products & Services

Copyright 2024 Stock Investor Place Inc. All Rights Reserved.
Disclaimer - Terms of Use - Privacy Policy - Advertise