Bombardier looking to sell aerostructures operations in Belfast and Morocco
May 2, 2019 By The Canadian Press
May 2, 2019 – Bombardier Inc. says it is looking to sell its aerostructures businesses in Belfast and Morocco as part of a consolidation of its aerospace business into a single unit.
The company says the newly created Bombardier Aviation division will include its business aircraft business as well as its CRJ regional jets.
The corporate shakeup comes as Bombardier, which keeps its books in U.S. dollars, reported a first-quarter profit of US$239 million or eight cents per share compared with a profit of $44 million or a penny per share a year ago.
Revenue for the three months ended March 31 fell to $3.52 billion compared with $4.03 billion in the same quarter last year.
On an adjusted basis, Bombardier says it lost $122 million or seven cents per share compared with an adjusted profit of $35 million or a penny per share a year ago.
Analysts on average had expected a loss of a penny per share and revenue of $3.62 billion, according to Thomson Reuters Eikon.