Resources shifted to regional jet and turboprop opportunities
CSeries efforts to continue with reduced team
Bombardier announced today that present market conditions do not justify the launch of the CSeries program at this time. The Corporation will now reorient CSeries project efforts, team and resources to regional jet and turboprop aircraft opportunities to address regional airlines’ future needs in the 80- to 100-seat aircraft market.
The majority of the CSeries employees will be redirected to the development of these regional aircraft opportunities. A small team of employees will remain with the CSeries program to further develop its business plan, with emphasis on including other partners, particularly in fast-growing major aerospace markets.
‘‘This is the correct business decision given today’s market dynamics,” said Pierre Beaudoin, President and Chief Operating Officer, Bombardier Aerospace. “Our realignment decision is based on two years of extensive research, development and evaluation. We will now concurrently continue to explore the CSeries’ potential as well as pursue opportunities in the regional aircraft market. Our commitment to the upper end of the regional aircraft market and the lower end of the mainline market remains strong and we expect to fully exploit opportunities in these two markets in the future,” he added.
A world-leading manufacturer of innovative transportation solutions, from regional aircraft and business jets to rail transportation equipment, Bombardier Inc. is a global corporation headquartered in Canada. Its revenues for the fiscal year ended Jan. 31, 2005, were $15.8 billion US and its shares are traded on the Toronto Stock Exchange (BBD). News and information are available at www.bombardier.com.
CSeries is a trademark of Bombardier Inc. or its subsidiaries.
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