Bombardier: posts Q2 loss
(CercleFinance.com) - On Thursday Bombardier announced a loss of 427 million dollars for its second quarter, mainly due to a charge related to additional costs at its Transportation division.
Bombardier explains that it incurred estimated direct disruption costs of approximately 75 million dollars relating to the Covid-19 pandemic, mainly due to lower volumes.
Q4 revenues fell by 37% to 2.7 billion dollars.
Transportation revenues declined to 1.5 billion dollars from 2.2 billion dollars for the three months to end-une.
In the aviation segment, revenue was 1.2 billion dollars, compared with 2.1 billion dollars in Q2 2019.
As of 30 June, the transportation backlog was 33.7 billion dollars, while the aviation backlog was 12.9 billion dollars, with the pace of aircraft deliveries expected to accelerate in the second half of the year according to the group.
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