Red ink in earnings despite deal Red ink in earnings despite deal
A backlog for Bombardier worth $58.9 billion was reported in its first-quarter financial results released Thursday — against revenues that fell nearly 11 per cent.
But Bombardier has signed deals in recent months to sell the planes, including a letter of intent in February where Air Canada would buy 45 CSeries jets, with an option to purchase up to 30 more of the aircraft.
Swiss Airlines is scheduled to be the first carrier to put the plane into commercial service in July.
The order came as Bombardier reported a first-quarter loss attributable to shareholders of $161 million US, or seven cents per share. That compared with a profit attributable to shareholders of $98 million US or five cents per share a year ago.
Revenue for the quarter fell to $3.14 billion US compared with nearly $4.4 billion US in the first three months of 2015.