🔥 Premium AI-powered Stock Picks from InvestingPro Now up to 50% OffCLAIM SALE

Bombardier reports quarterly loss, sees positive 2020 cash flow

Published 13/02/2020, 11:41
© Reuters.  Bombardier reports quarterly loss, sees positive 2020 cash flow
AIR
-
BBDb
-

MONTREAL (Reuters) - Canadian plane and train maker Bombardier Inc (TO:BBDb) on Thursday reported a quarterly loss, partly due to charges related to some rail contracts in Europe.

Bombardier said it expects 2020 free cash flow, excluding certain items, to be positive, compared with a cash outflow of $1.20 billion (924.4 million pounds) in 2019.

The company's loss before interest and taxes was $1.70 billion in the fourth quarter ended Dec. 31, compared with a profit of $342 million a year earlier.

Earlier on Thursday, European planemaker Airbus (PA:AIR) reached a deal to buy the remaining stake of Bombardier in the A220 passenger jet program for about $600 million.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.