The Montreal-based company, which once made everything from snowmobiles to commercial aircraft, will focus solely on corporate jets following its announcement of two separate deals to sell off parts of its business in less than a week. And with the proceeds earmarked toward reducing a US$10 billion debt load, chief executive Alain Bellemare struck an upbeat tone on Monday after announcing the sale of Bombardier’s rail business to French train maker Alstom SA.
Bellemare presided over many transactions, including the sale of its turboprop-plane business to Longview Aviation Capital Corp. last year, as well as agreements to offload its regional-jet operation and a wing plant in Northern Ireland. Last week, he completed Bombardier’s exit from commercial aerospace by ceding its stake in the Airbus SE A220 program.
Quebec Economy Minister Pierre Fitzgibbon “We’ve completed the turnaround,” he said when asked about considering an offer for the division. “We wanted to ensure that we would have the right tools to de-leverage the business and this is what we’re announcing today. We really like our business aircraft business and we will continue to focus on this.”
What’s left to turnaround? A sea doo?
Despised by Canadians, sabotaged by Airbus, Obliterated by Boeing and enabler D J Trump with threatened 300% tariffs...how could they fail?
A real winner who will be remembered as the one who sunk the big B into the ground.
And Conservatives are elated.
Why did it take so long. This company hasn’t made good on a contract in its entire existence.
Maybe they can start returning taxpayers bailout $$ soon then..
Old saying second generation ruined first generation hard work.
Another dismal performance by a national darling. Fear not, this company won't be allowed to fail. Luckily for them they are not based in western Canada
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