Bombardier to create single aviation unit, sell Belfast, Morocco businesses GlobeBusiness
Canada’s Bombardier Inc said on Thursday it would combine its corporate and regional jet units into a single aviation unit and shed more non-core assets by selling off its Belfast and Morocco aerostructures businesses.
The company posted first-quarter revenue and profit in line with its preliminary results announced last week and reiterated its lowered guidance. Bombardier’s surprise decision to slash its full-year revenue forecast by almost 8 percent to about $8.75 billion was blamed largely on five delayed contracts, mostly in Europe.
“We expect that during that process, the company had reiterated prior 2019 guidance, which it changed last week, adding to concern on the part of bondholders.”
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