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Bombardier Inc. T.BBD.A

Alternate Symbol(s):  T.BBD.B | T.BBD.PR.B | T.BBD.PR.C | BOMBF | T.BBD.PR.D | BDRPF | BDRXF | BDRAF | BDRBF

Bombardier Inc. is focused on designing, manufacturing, and servicing business jets. The Company has a fleet of approximately 5,000 aircraft in service with a wide variety of multinational corporations, charter and fractional ownership providers, governments, and private individuals. The Company designs, develops, manufactures and markets two families of business jets (Challenger and Global), spanning from the mid-size to large categories. The Company also provides aftermarket support for both of these aircraft, as well as for the Learjet family of aircraft. The Company's robust customer support network services the Learjet, Challenger, and Global families of aircraft, and includes facilities in strategic locations in the United States and Canada, as well as in the United Kingdom, Germany, France, Switzerland, Italy, Austria, The United Arab Emirates, Singapore, China and Australia. Its jets include Challenger 300, Challenger 350, Challenger 3500, Global 5000, Global 5500, Global 6000.


TSX:BBD.A - Post by User

Bullboard Posts
Post by jammerhon Aug 16, 2012 4:05pm
326 Views
Post# 20226521

Chorus Aviation Earnings Up 35%

Chorus Aviation Earnings Up 35%

Chorus net income up 35% for 2Q

Jazz Air CRJ700. Photo: Courtesy, Bombardier

Jazz Air parent Chorus Aviation reported second-quarter net income of C$22.9 million ($22.3 million), up 35.3% from a C$16.9 million profit in the year-ago period.

“Cash flow remains strong, and we remain focused on strengthening our foundation, improving our cost competitiveness and building the core value for all our stakeholders,” president and CEO Joseph Randell said.

Revenue increased 6% to C$426.3 million while expenses rose 3.1% to C$389.7 million, producing an operating profit of C$36.6 million, up 52.6% from a C$24 million operating profit in the prior-year quarter.

Chorus Aviation, the holding company for Jazz Aviation, took delivery of additional Bombardier Q400s in the quarter. It added the last three Q400s from the original order of 15. Jazz placed an order for six Q400 NextGen aircraft during the Farnborough Airshow (ATW Daily News, July 12).

Randell said Chorus is consolidating its heavy maintenance operations in Halifax by next summer to further improve operating efficiencies. “By increasing the number of newer aircraft in the Jazz fleet, the requirement for heavy maintenance is reduced. While we recognize the impact of this decision is difficult for a number of our employees—it is the right direction to take if we are to become more cost competitive and remain relevant in this industry as the competitive landscape continues to change.”

Chorus Aviation’s stake in Uruguay-based Pluna included a write-down of C$16.4 million due to the takeover of the failing carrier by the Uruguayan government. Pluna ceased operations in early July (ATW Daily News, July 3).

Also during the second quarter, Chorus and Air Canada negotiated new rates under their capacity purchase agreement for 2012 through 2014.

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