Bombardier Announces Further Cuts For CSeries Delivery Target
Bombardier is announcing that they will further cut the CSeries deliveries for the year amidst engine delays by Pratt & Whitney. Having reduced the delivery forecast from 15 to now just 7 aircrafts in 2016, Bombardier Commercial Aircraft is expecting lower projected revenues for the year. Bombardier has promised that they are working more closely with Pratt & Whitney in an attempt to address the engine supply ramp-up issue and the Canadian plane and train supplier has already delivered 2 CS100s to SWISS with a third delivery due in October.
The fourth quarter of this year is expected to bring the first of the larger CS300s into service with airBaltic. Fred Cromer, President of Bombardier Commercial Aircraft stated that he was pleased with the performance of the CSeries during the entry into service phase and that the aircraft is meeting and exceeding all initial expectations. As a direct result of the delay in the delivery forecast, Bombardier expects revenue to be on the lower end of the $16.5 billion to $17.5 billion dollar range. Just last week Bombardier received the final portion of the $500 million dollar payment for the CSeries investment from the Government of Quebec.
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