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Bombardier Inc. (BDRBF) is a global leader in aerospace innovation and advanced rail transportation solutions. This dedicated news hub provides investors and industry professionals with timely updates on corporate developments, financial performance, and strategic initiatives shaping the future of mobility.
Access authoritative coverage of Bombardier's latest press releases, including aircraft delivery milestones, service network expansions, and technological advancements. Our curated collection features essential updates across key operational areas: quarterly earnings disclosures, defense contract awards, sustainability initiatives, and partnership announcements within the aviation sector.
Bookmark this page for streamlined access to critical information affecting Bombardier's market position. Monitor executive leadership updates, production capacity changes, and regulatory developments that impact the company's performance in business aviation and rail transportation markets.
Bombardier has launched a new 36-month apprenticeship program at its London Biggin Hill Service Centre, enrolling 16 apprentices in an advanced aircraft maintenance engineering course. The program combines virtual classroom and on-site training, aimed at helping students attain EASA part 66 modules (B Licence) certification and a Level 4 City & Guilds Diploma in Aerospace and Aviation. Graduates will have the chance to secure full-time positions at the facility, enhancing its skilled workforce.
Airshare has announced the purchase of three Challenger 350 aircraft with the option for 17 more, aiming to expand its fractional ownership fleet significantly. This move positions Airshare to enter the super midsize segment. The Challenger 350, known for its reliability and operating cost efficiency, is expected to enhance Airshare's service offerings, particularly to East Coast clients. The aircraft has maintained its title as the most delivered business jet in its category for seven consecutive years, indicating strong market demand.
On May 12, 2021, Bombardier announced it has secured the necessary consent from holders of specific tranches of its senior notes regarding its Consent Solicitation Statement dated May 3, 2021. The company has extended the consent solicitation period to allow additional participation, with new expiration dates set for various series of notes. Notably, the company requires sufficient consents for its 7.875% Senior Notes due 2027 for the proposed amendments to take effect. Consent payments of US$1.25 per US$1,000 principal amount will be made to those who consent by the deadlines.
Bombardier is hosting its second virtual event from May 10 to May 14, 2021, focused on showcasing its aircraft and customer service offerings to clients in the Middle East and Europe. The event will feature online visits of several aircraft models, including the Challenger 350, Challenger 650, Global 5500, Global 6500, and the Global 7500. Following a successful North American event in October, this initiative aims to engage a broader audience. Public participation is encouraged through daily online visits, with details available via Bombardier's social media channels.
Bombardier announced the successful election of all 12 director candidates during its annual shareholder meeting held virtually on May 6, 2021. Key figures include Pierre Beaudoin receiving 98.59% of votes, while Melinda Rogers-Hixon led with 99.68%. The meeting highlights Bombardier's governance stability as it continues to navigate challenges in the aviation industry. The company aims to enhance its shareholder value and maintain its position as a leader in innovative aviation solutions.
Bombardier reported strong Q1 2021 results with business jet revenues reaching $1.3 billion, an 18% year-over-year increase, primarily due to large-cabin aircraft deliveries, including eight Global 7500 models. Adjusted EBITDA rose 43% to $123 million, reflecting improved aircraft mix and cost structure. Free cash flow usage improved by $357 million to $405 million.
Pro-forma liquidity stood at $2.6 billion following significant debt repayment actions totaling approximately $2.4 billion, expected to reduce annual cash interest costs by $200 million.
Bombardier has initiated consent solicitations regarding its senior notes following a claim from a holder of the 2034 Notes, alleging that the company breached covenants due to its recent divestitures. The corporation asserts these claims are unfounded and emphasizes its strategic repositioning for long-term growth and value creation. The consent solicitations aim to clarify transaction permissions within indentures and seek waivers for any alleged defaults, offering a consent payment of US$1.25 per US$1,000 principal amount. The final financial results will be disclosed on May 6, 2021.
Bombardier reported preliminary Q1 2021 results with business jet revenues projected at $1.3 billion, reflecting an 18% year-over-year increase. Expected EBIT and adjusted EBITDA stand at $19 million and $123 million, respectively. Free cash flow usage is anticipated at $405 million, including around $100 million in non-recurring items. The company aims to deliver 110-120 business aircraft this year. In a separate note, Bombardier launched consent solicitations regarding its senior notes following claims of covenant breaches, which it contests as unmerited.
Bombardier has been recognized with the 2021 Mercure Award in the Health and Safety category by the Fédération des chambres de commerce du Québec. This award acknowledges the company's exemplary health and safety program which was adapted rapidly during the COVID-19 pandemic. Measures included creating 'work bubbles' and extensive training, ensuring employee safety while maintaining operations. Furthermore, Bombardier is contributing to the vaccination effort in Quebec, partnering to establish a vaccination hub at its Dorval facility.
