Bombardier Aerospace's EBIT soared 62.8% to $896 million for its fiscal year ended Jan. 31 from $563 million in the prior fiscal year on a 3.1% rise in annual revenues to $10 billion. However, the improvement was overshadowed by an announcement yesterday that the company "is revising downward all of its business and regional jet production rates" and will cut approximately 3,000 jobs by year end. Of these, 1,831 will come from the ranks of unionized workers; 725 contract workers and 444 ...

Subscribe to Access this Entire Article

"Bombardier posts higher profit but plans 3,000 layoffs" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions?

Already registered? here.