Bombardier Temporarily Shuts Down Plants, Lays Off 12,400

The COVID-19 crisis is dragging down corporate profits and equities markets, which both correlate strongly with demand for private planes, said Richard Aboulafia, an aviation analyst with Teal Group in the Washington, D.C., area.

“The bigger issue is going to be the supply chain, because they’re very complicated pieces of equipment with hundreds if not thousands of suppliers,” said AltaCorp Capital analyst Chris Murray, noting the ripple effect of plummeting travel demand for manufacturers. The US$8.2-billion deal with Alstom and other recent transactions will leave Bombardier with net proceeds of between US$4.2 billion and US$4.5 billion after deducting the Caisse de Depot et Placement’s equity position, as well as adjustments for debts and other liabilities, Bombardier said in February.

Bombardier shares have hit new lows over the past week, hovering between 38 and 50 cents at their cheapest price in decades.

Trudeau will bail the out and sink us even further in debt 👎🏼🇨🇦

How is this Capitalism? The Canadian government spends billions bailing Bombardier out every year & they still owe $9.3 billion?!?!? How is that even possible? Capitalism is a scam!

And it conveniently comes out now with government offering $ for business.

Bombardier needs to be shut down for good.

What do they even do anymore? Sold trains..sold airplanes....sold recreation.

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