MONTREAL – Bombardier Inc. says the debut of its new Global 7000 business jet will be delayed until 2018.
The company had expected the long-range business aircraft to enter service next year.
The delay came as Bombardier reported a second-quarter profit of US$125 million, down from $155 million a year ago, as a stronger U.S. dollar hurt revenue.
Total sales amounted to $4.6 billion for the quarter, compared with $4.9 billion in the same quarter last year. Excluding the impact of foreign exchange, it said revenue was up two per cent.
Under pressure
Bombardier has been under pressure in recent months as it has struggled to develop its new CSeries aircraft.
The company said Thursday that C Series flight testing is progressing rapidly with over 2,000 hours completed and performance exceeding targets.
The aircraft is on track to enter into service in the first half of 2016, Bombardier said.
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New Bombardier chief executive Alain Bellemare said the financial results were in line with the company’s plan.
“After five months on the job, I have a better understanding of our challenges and opportunities,” Bellemare said in a statement.
“We are taking specific action, including the launch of our Bombardier transformation plan, a disciplined approach to cash management, and the strengthening of our leadership team to reshape the company and ensure our long-term success.”
WATCH: Bombardier promises 20 new streetcars on the road by the end of 2015. There were supposed to be 70. Alan Carter has the story.
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