20:45:17 EDT Sat 21 Jul 2018
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CA



Bombardier Inc
Symbol C : BBD.B
Shares Issued 2,101,607,469
Close 2018-07-12 C$ 5.40
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Post/CP say Airbus link downplayed in Bombardier sale

2018-07-12 09:37 ET - In the News

The Financial Post reports in its Thursday edition that Bombardier shares hit a nearly seven-year high Wednesday after the C Series jet it developed secured the largest order since the announcement of a joint venture with Airbus. A Canadian Press dispatch to the Post says that JetBlue Airways ordered 60 of the aircraft, renamed by Airbus as the A220-300, for delivery starting in 2020 with the option for another 60 starting in 2025. The firm deal announced late Tuesday was valued at $5.4-billion (U.S.) at list prices, but airlines typically receive large discounts. The airline said the plane's economics were the primary motivation rather than Airbus taking majority control over the aircraft's joint venture which happened after JetBlue launched its 15-month review. "The marriage between Bombardier and Airbus was a secondary factor," chief financial officer Stephen Priest said in a conference call. "But the good news about that when it came to fruition was it allowed us to reshape our Airbus orderbook to make sure that we continue to maintain our mid- to high single-digit capacity growth over the foreseeable future." JetBlue will become the first American airline to fly the larger A220-300 with 130 to 140 seats.

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