BOMBARDIER INC B - BDRBF STOCK NEWS

Bombardier has announced a partnership with Alinghi Red Bull Racing as an official supplier for the 37th America's Cup. This collaboration unites two teams dedicated to engineering excellence and innovation in their respective fields of aviation and sailing. The partnership comes as Alinghi Red Bull Racing prepares to compete in the prestigious sailing race, while Bombardier readies to launch its Global 8000 business jet.

Both teams share a commitment to uncompromising performance and pushing boundaries. Alinghi Red Bull Racing brings together experienced America's Cup winners and new talent, bolstered by Red Bull's Formula One expertise. Meanwhile, Bombardier's Global 7500 jet holds over 40 industry speed records, and the upcoming Global 8000 has already made history by breaking the sound barrier during testing.

Bombardier (TSX: BBD.B) reported strong Q2 2024 financial results, showing double-digit growth across key metrics. Aircraft deliveries increased 34% to 39 units, while total revenues climbed 32% to $2.2 billion. The Services segment contributed $507 million, up 18% year-over-year. Adjusted EBITDA rose 22% to $335 million, with a 15.2% margin. Free cash flow usage improved by $154 million compared to Q2 2023. The company's backlog stood at $14.9 billion with a unit book-to-bill of 1.0. Bombardier affirmed its full-year guidance, aiming for 150-155 aircraft deliveries in 2024 and $2 billion in Services revenues by 2025.

Bombardier has expanded its customer service footprint in Europe by adding a new line maintenance station in Farnborough, UK. This addition brings Bombardier's global line maintenance stations to 9, offering light scheduled and unscheduled maintenance, as well as Aircraft on Ground (AOG) support for all Learjet, Challenger, and Global series business jets.

The new station complements Bombardier's existing European service network, including the London Biggin Hill Service Centre, Berlin Service Centre, and Paris Line Maintenance Station. This expansion is part of Bombardier's commitment to enhancing OEM support for customers in the region, providing more resources and increased flexibility closer to their base of operations.

Bombardier's global network now includes 10 service centres and 35 Mobile Response Team units, ensuring comprehensive support for its aircraft worldwide.

Bombardier (TSX: BBD.B) has announced that it will release its second quarter 2024 financial results on July 25, 2024. The company will host a live presentation of the results, featuring Éric Martel, President and CEO, and Bart Demosky, Executive VP and CFO. The presentation is scheduled for 8:00 a.m. ET and will be followed by a Q&A session with analysts.

Interested parties can access the presentation via a live webcast available on Bombardier's website, which will include relevant financial charts in both English and French. Alternatively, the presentation can be accessed by phone, with lines opening 15 minutes before the start time. Local dial-in numbers are provided for Montréal and Toronto.

Bombardier has installed over 3,000 solar panels at its London Biggin Hill Service Centre, demonstrating its commitment to sustainable aviation practices. The new PV solar panel system will generate more than 1.133 million kWh, reducing annual carbon emissions by up to 252 tons and providing up to 32% of the facility's total energy demand from an on-site renewable source.

This initiative aligns with Bombardier's goal to reduce greenhouse gas emissions by 25% by 2025 relative to 2019 levels. The company is also pursuing other sustainability efforts, including using sustainable aviation fuel for all flight operations, publishing Environmental Product Declarations for its aircraft, and developing the EcoJet research project, which aims to reduce business jet CO2 emissions by up to 50%.

Bombardier announced that employees of Unifor Locals 112 and 673 at its Aircraft Assembly Centre in Greater Toronto have ratified a new 3-year collective agreement. This renewal ensures continued operations and stability for Bombardier's Global family of aircraft.

The agreement highlights Bombardier's commitment to its workforce and operations in the region. Normal assembly activities are set to resume immediately, solidifying the company's production schedule and market position.

Bombardier has positioned a full-size mockup of its Challenger 3500 business jet at the Costa Smeralda Airport in Olbia, Italy, available for viewing throughout the summer. Following stops in Paris and Nice, this display offers European clients a chance to experience the aircraft's award-winning cabin, including the innovative Nuage seat and advanced technological features. The Challenger 3500 boasts the widest cabin in its class, voice-controlled technology, 4K monitors, and a low cabin altitude to enhance passenger comfort and reduce fatigue. With a range of 3,400 nautical miles, the jet can reach destinations across Europe, Africa, and the Middle East. It also features exceptional performance with a dispatch reliability rate of over 99.8% and the lowest direct operating costs in its class. Viewings at the Sardinia FBO are available without appointment through July and August.

On July 2, 2024, Bombardier issued a statement reaffirming its commitment to maintaining high standards of quality and performance in its supply contracts. The company emphasized its ongoing engagement with Spirit Aerosystems, continuing as part of their ordinary business operations under existing agreements.

Bombardier announced the settlement of a lawsuit initiated by Antara Capital Master Fund LP, Corbin ERISA Opportunity Fund , and Corbin Opportunity Fund, L.P. The case, filed in January 2022, was pending in the New York State Supreme Court. The settlement, effective after customary conditions are met, resolves the lawsuit without admission of liability by defendants. It includes consent from plaintiffs regarding amendments to the indenture of 7.45% Senior Notes due 2034, acknowledging no default occurred. Terms are confidential and the settlement is not material to Bombardier's financial results or cash position. Bombardier believes resolving the case avoids litigation expenses and distractions, allowing focus on core operations.