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Bombardier Inc
Symbol BBD
Shares Issued 1,443,514,989
Close 2014-06-06 C$ 3.82
Market Cap C$ 5,514,227,258
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Post/wire say Bombardier close to answer on engine woes

2014-06-09 09:09 ET - In the News

The Financial Post reports in its Saturday edition the engine failure on Bombardier's CSeries test plane last week occurred in the low-pressure turbine and that the airframe on the jet had been damaged. A Reuters dispatch to the Post says spokesman Marc Duchesne confirmed the details reported in a UBS research note. The engine has been disassembled, Pratt & Whitney said on Friday, adding that after an in-depth review, "We understand the issue and have developed a plan with Bombardier to resume ground and flight testing." Bombardier downplayed the impact of the engine failure to the test schedule of the $4.4-billion jetliner program. Throughout the week, there had been some optimism within the industry and among analysts that the fallout from the incident would be limited. "Preliminary findings indicate that the engine failure is not related to the engine's gearbox," said chief executive officer Pierre Beaudoin. "The engine that experienced the failure last week had had problems in the weeks prior to the incident and it had been repaired here in Mirabel. It seemed okay and ready to fly and it did, and then there was the incident." A root cause is expected to be identified by the end of the week.

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