04:33:21 EDT Fri 17 May 2024
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Bombardier Inc (2)
Symbol BBD
Shares Issued 87,005,015
Close 2023-12-05 C$ 47.63
Market Cap C$ 4,144,048,864
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Globe says Bombardier keen to get military contracts

2023-12-06 08:54 ET - In the News

The Globe and Mail reports in its Wednesday edition that Bombardier is not giving up on its submarine hunter aircraft. The Globe's Nicolas Van Praet writes that Éric Martel, chief executive officer, says Bombardier will press ahead with efforts to interest other countries in a militarized version of its Global 6500 business jet after the Canadian government rejected the concept and awarded a multibillion-dollar contract for new maritime patrol planes to U.S. giant Boeing. "This is not changing the trajectory of Bombardier," Mr. Martel said of Ottawa's decision. "We still have a couple of other countries that are talking to us for mainly the same product. Some are actually talking about replacing their [Boeing planes] because they're not superhappy with it." The comments underscore Bombardier's resolve to find buyers for the new plane as the company builds out its military business -- as well as a desire to prove its home government wrong in its assessment of its military wherewithal. Mr. Martel said the new aircraft could be engineered at "minimal" risk to the manufacturer. The feds will spend $10.4-billion on a new fleet of 14 Boeing P-8A Poseidon aircraft to replace Canada's aging CP-140 Aurora surveillance planes.

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