BOMBARDIER INC B - BDRBF STOCK NEWS

Bombardier reported a limited cybersecurity breach on February 23, 2021, due to a vulnerability in a third-party file-transfer application. An unauthorized party accessed sensitive data affecting approximately 130 employees in Costa Rica.

Bombardier's security measures helped contain the incident, and they are collaborating with cybersecurity experts and authorities to investigate further. The breach was not targeted specifically at Bombardier, and key operations remain unaffected. The company is actively notifying impacted stakeholders and remains committed to securing its IT infrastructure.

Bombardier announced on February 17, 2021, the initiation of repayment for the total outstanding balance of $750 million drawn from its $1 billion senior secured term loan facility. This facility was established on August 19, 2020, and the repayment, which includes all accrued interest and associated fees, is set to be completed by February 19, 2021. This move underscores Bombardier's commitment to managing its debt effectively.

In 2020, Bombardier reported revenues of $5.6 billion from Business Aircraft, a 3% year-over-year increase due to the ramp-up of Global 7500 deliveries, with a record 16 aircraft delivered in Q4. Adjusted EBITDA reached $200 million while reported EBIT was $912 million, reflecting gains from asset disposals. The company projects improved performance in 2021, targeting revenues growth and an adjusted EBITDA exceeding $500 million.

Additionally, Bombardier plans a significant cost savings initiative aiming for $400 million annually by 2023, including workforce reductions and ending Learjet production.

Bombardier is set to announce its financial results for Q4 and FY 2020 on February 11, 2021. Investors and analysts can join a webcast at 8:00 a.m. EST for a detailed review of these results. The conference call can be accessed via multiple phone numbers, including toll-free options for North America. The company aims to showcase financial performance and address questions from stakeholders. Bombardier remains a leader in aviation, providing innovative aircraft globally, and supports a fleet of approximately 4,900 aircraft.

Bombardier has partnered with StandardAero to enhance maintenance services for Learjet and Challenger aircraft in Europe. This agreement will enable expanded overhaul capabilities at Biggin Hill and Berlin service centers. Customers will benefit from all-inclusive pricing and streamlined maintenance, reducing downtime and costs by bundling services. The collaboration aims to deliver superior service support, leveraging expertise from both companies for a comprehensive maintenance experience, which includes engine, APU, and airframe services.

Bombardier is set to release its financial results for the fourth quarter and full year ending December 31, 2020, on February 11, 2021. A conference call will occur at 8:00 a.m. EST, where the results will be discussed. Investors can access a live webcast on Bombardier's website, as well as participate via phone. The corporation is a leader in aviation with a global footprint, supporting a fleet of approximately 4,900 aircraft.

Bombardier has expanded its customer support network in Europe with a new service facility in Berlin, appointing Stuart Bailey as General Manager. His extensive experience at Lufthansa will enhance operations at the facility. This addition is crucial for expanding Bombardier's global reach and service capabilities. The new center will offer high-quality MRO services, contributing to Bombardier's strategic growth plans. The announcement is part of a broader initiative to enhance worldwide customer service, including new service centers in Miami, Singapore, and future expansions in Melbourne and the US.

Bombardier has successfully completed the sale of its Transportation business to Alstom, receiving net proceeds of approximately $3.6 billion. This includes around $600 million in Alstom shares. The transaction strengthens Bombardier's liquidity and initiates its transition to a pure-play business jet manufacturer. Pro-forma net debt is projected at $4.7 billion, post-transaction. Despite lower-than-expected cash generation from Transportation, Bombardier aims to use the proceeds for debt reduction and enhance its financial stability.

On October 19, 2020, Bombardier Aviation announced key leadership appointments at its Biggin Hill Service Centre, aiming to enhance its services network. Greg Hoggett is appointed General Manager, bringing over 30 years of aviation experience. Corey Trudgen will support the ongoing expansion project, which includes a new hangar and is scheduled to be operational in 2022. These changes coincide with Bombardier's strategic growth, including service centers in Berlin and Miami, and expansions in Singapore, reaffirming their commitment to customer service excellence.