![]() “They will have to face their debt -they have a $4-billion debt- but I think they are in a good position to remain as a global player in the business jet environment.” It’s 58 years old, and now they will stop producing them and we’ll have a new Bombardier starting this year,” Nadeau said. Bombardier has two brands, Challenger and Global. “I think Éric Martel is really trying to focus on the brands. We have a new Bombardier, a much smaller one with the just 7,000 employees and $5.6 billion in yearly sales, but that’s the new reality,” Nadeau said. “I think today we should forget the old Bombardier. Now they sold their transportation business, they sold most of the commercial business and now they are focusing on upscale business jets,” said Nadeau, speaking to BNN Bloomberg on Thursday. “Three years ago Bombardier was a multi-sectoral transportation giant with 70,000 employees. For the year ahead, management has guided for adjusted EBITDA to be over $500 million as the Global 7500 program continues to grow.Īnd while the company may be a shell of its former self, Nadeau says investors need to accept that this is the reality with the new Bombardier. The company said it generated $523 million in fourth quarter free cash flow from continuing operations before interest and taxes. Q4 numbers saw Bombardier deliver 44 business aircraft for a total of 114 for the year, including 16 Global 7500 planes. ![]() We are encouraged by our momentum in the fourth quarter and are confident in the actions we are taking to navigate through the pandemic and better position the Company for a market recovery.” “Our unmatched product portfolio, world-class customer services network, and incredibly talented employees give us a strong foundation to build upon. ![]() “With our strategic repositioning now complete, we are very excited to embark on our journey as a pure-play business jet company,” said Éric Martel, President and CEO in the company’s fourth quarter press release. It’s the latest in a series of moves in recent years that have taken Bombardier from a global force in transportation with over 70,000 employees to a much pared down version with now reportedly 13,000 employees worldwide, as the company looks to control its debt and right the ship. At the same time, the company announced it will end production of the storied Learjet aircraft later this year so as to focus efforts on the Challenger and Global lines. Montreal-headquartered Bombardier announced its fourth quarter and full year results on Thursday, showing revenues from its Business Aircraft segment of $5.6 billion for 2020, up three per cent from 2019. ![]()
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