Post by
snappyday on Feb 12, 2021 1:52pm
Financial Report was GOOD news
It's sad that media too often chooses only selected news extracts and leaves out the details, such as:
Bombardier will stop making new Learjets as it's a crowded space where Bombardier is not making money. But they will continue to provide profitable servicing to existing aircraft long into the future as well as launch a new (profitable) Learjet RACER remanufacturing program.
The global workforce will be reduced by year end by 1600 to 13,000 (media prefers words like slash) while they "continue to navigate through the pandemic". Half of those layoffs are NOT EVEN IN CANADA (700 in Quebec/ 100 in Ontario), so the real number for Canada is only 800. Canada just lost 213,000 jobs in January while our whole economy continues to be challenged by COVID-19. It's great to hear it was only 800 Canadien layoffs at Bombardier.
I consider the financial report quite GOOD NEWS and I'm more confident of Bombardier's future and hope the SP will rise as the company's efforts bare fruit.
Note that I'm just a little guy who's invested part of his RRSP in BBD-B.