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Bombardier: Engine delays cut C Series delivery forecast 50pc plus
CANADIAN train and plane maker Bombardier cut its 2016 forecast for C Series aircraft deliveries by more than half because of delays in engine shipments from supplier Pratt & Whitney, reports Bloomberg News.
The Montreal planemaker expects to deliver seven of the new jetliners this year, down from an earlier plan for 15, said the company.
The change will result in lower sales at Bombardier Commercial Aircraft and revenue for the parent company will be at the low end of its previously forecast range of US$16.5 billion to $17.5 billion, Bombardier said.
The delay isn't expected to have a material effect on earnings before interest and taxes, which is forecast at the upper end of the $200 million to $400 million range.
"We are working very closely with Pratt & Whitney to quickly address this supplier ramp-up issue and to ensure we have a strong supplier base to support our long-term growth objectives," said Fred Cromer, president of Bombardier's commercial-aircraft unit.
The Montreal planemaker expects to deliver seven of the new jetliners this year, down from an earlier plan for 15, said the company.
The change will result in lower sales at Bombardier Commercial Aircraft and revenue for the parent company will be at the low end of its previously forecast range of US$16.5 billion to $17.5 billion, Bombardier said.
The delay isn't expected to have a material effect on earnings before interest and taxes, which is forecast at the upper end of the $200 million to $400 million range.
"We are working very closely with Pratt & Whitney to quickly address this supplier ramp-up issue and to ensure we have a strong supplier base to support our long-term growth objectives," said Fred Cromer, president of Bombardier's commercial-aircraft unit.
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