Bombardier CSeries: a che punto siamo?


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Esteticamente favoloso, vediamo se riuscirà a battere l'Embraer..

So che MERIDIANA aveva chiesto uno studio preliminare a BOMBARDIER, chissà se gli sceicchi proseguiranno verso il CS!
 
Air Baltic (BT, Riga) Chief Executive Officer and Chairman Martin Gauss has confirmed that his airline will be the official launch operator for the CS300. The Latvian carrier has thirteen of the type on order from Bombardier (BBA, Montréal Trudeau) with options for an additional seven.

Speaking exclusively to ch-aviation on the sidelines of the ongoing Paris Air Show 2015 at Paris Le Bourget, Gauss said that among the first routes the CS300s will operate will be Riga-Zurich where they will more than likely compete with Swiss (LX, Zurich) and its C-Series fleet. In terms of competition and success, Gauss said he believes Air Baltic will likely capture that route's market given his airline's superior cost-structure.

Earlier this week, Swiss, which is the CS100 launch operator, announced it had converted ten of its CS100 airframes to the larger CS300. Once in service, expected during the middle of 2016, the CS100s and CS300s will be operated by its Swiss Global Air Lines (SWU, Zurich) subsidiary.

Bombardier says it has booked orders and commitments for 603 of its C-Series aircraft, which include firm orders for 243.

ch-aviation
 
TW 843 ha detto:
Stanno oltre la canna del gas.
Clicca per espandere...
Mi è tornato in mente il tuo post.

Bombardier Reviewing Global 7000/8000 Program Schedules

by Mark Huber and Chad Trautvetter
- July 8, 2015, 5:25 PM

Bombardier Aerospace is conducting a “full review” of its new Global 7000 and 8000 programs, dropping hints that the schedule for both ultra-long-range jets might shift to the right. The first Global 7000 hasn't yet been rolled out, dimming chances that the jet could be certified in 2016 as originally planned. (Photo: Bombardier Aerospace)

Bombardier Aerospace is conducting a “full review” of its new Global 7000 and 8000 programs, dropping hints that the schedule for both ultra-long-range jets might be delayed. The airframer's new management team has been dealing with significant cost overruns and other demands associated with developing its new CSeries airliners.
“Following the arrival of new leadership in our organization—namely Alain Bellemare as president andCEO of Bombardier, Inc. and David Coleal as president of Bombardier Business Aircraft—we are conducting a full review of all aspects of the program, including its schedule,” the company said in a statement provided to AIN. “We will continue to hold to our current commitments and once the full review is complete, we will provide any possible updates to the program.”
While the Global 7000 and 8000 are still officially scheduled to enter service in 2016 and 2017, respectively, business aviation analyst Rolland Vincent told AIN that he expects both aircraft programs to be delayed by 18 to 24 months. “Bombardier hasn’t even flown the Global 7000 yet, and there are a lot of risks with the programs: new [GE Passport] engines and new thin high-speed wings, as well as fly-by-wire,” he said. “There are a lot of unknowns here, so this won’t be a quick and easy flight-test campaign.”
A Bombardier spokesman said the first flight-test vehicle is “in final assembly with major structural parts joined, including the rear, center and forward fuselages and the wing, as well as the main landing gear.”

http://www.ainonline.com/aviation-news/business-aviation/2015-07-08/bombardier-reviewing-global-7000/8000-program-schedules
 
Bombardier Shares, Bonds Drop on Business-Jet-Demand Doubts
Bloomberg.com
Posted: 07.22.15

Bombardier Inc.’s shares and bonds tumbled on concern that demand is weakening for business jets, a pillar of profit at a company struggling to develop its first commercial airliner.

The sell-off probably was triggered by comments Wednesday from an aviation-parts supplier, B/E Aerospace Inc. about softening buyer interest in large-cabin executive aircraft, said Benoit Poirier, a Desjardins Securities Inc. analyst.

“They said the business-jet environment remains very tough, especially on the international front,” Poirier said in a telephone interview from Montreal, where Bombardier also is based. He recommends buying the stock.

Bombardier’s widely traded Class B shares sank 3.9 percent to C$1.72 at the close in Toronto, paring an earlier plunge of as much as 18 percent. The 6 percent bonds due October 2022 fell 4.8 percent to 79 cents on the dollar. They had traded above par value in January.

According to a Citigroup Inc. analyst, Bombardier executives also told bondholders on a call Wednesday that “talk of tapping the markets again is absolutely untrue” and that liquidity is not a concern for the company.

Call Described
“Overall, the tone of the call was neutral to incrementally positive,” Citigroup’s Manish Somaiya said in a note to clients, citing comments from Treasurer Andrew Baranowsky and Shirley Chenier, director of investor relations.

The forum was held to review the Paris Air Show and other public information, according to Isabelle Rondeau, a Bombardier spokeswoman. There is no replay number for the call, and “nothing special” was discussed, she said by e-mail.

Bombardier has been squeezed because of slow sales for the CSeries jetliner, its attempt to challenge the Boeing Co.-Airbus Group SE duopoly on single-aisle jets. The plane is also running more than two years late, making Bombardier’s business aircraft even more crucial.

The stock began plunging after B/E Chairman Amin Khoury told analysts during an earnings conference call that large-cabin private planes have “come under pressure” in markets such as China, Russia and Latin America as governments and energy companies cut spending. B/E makes aircraft interiors.

Large-cabin executive planes were the first to recover from the 2008-2009 recession as a commodities rally in emerging markets spurred sales, providing a bright spot for Bombardier. Now, the collapse of oil prices and a slump in metals such as copper and gold are crimping jet sales.

Bombardier on July 9 said it’s re-evaluating the production timeline for the Global 7000 and 8000, the company’s largest, longest-range business jets. In May, the company announced it would cut 1,750 jobs at the business jet unit.

Bombardier’s five-year credit-default swap contracts jumped 14 percent to a record high of 818 basis points, signaling a deterioration in creditworthiness perception.
 
Bombardier Profit Dips, Delays New Jet

Reuters.com
Posted: 07.30.15

Canadian plane and train maker Bombardier Inc posted a 19.4 percent drop in quarterly profit, hurt by weaker sales at its transportation and commercial aircraft unit.

The company also said on Thursday that the Global 7000, its newest business jet launched in 2010, would now enter into service in the second half of 2018 instead of in 2016.

Bombardier's business jet division is a key source of cash flow for the company, which is spending heavily to develop its CSeries narrow-body, medium-range jet.

Net orders for business aircraft fell to 8 during the second quarter from 30 a year earlier, while commercial aircraft orders dropped to 3 from 18, the company said.

Revenue at Bombardier's transportation unit fell 12.1 percent to $2.09 billion.

Bombardier said in May that it would likely list a minority stake in its rail unit in the fourth quarter.

The company's net income fell to $125 million, or 6 cents per share, in the quarter ended June 30, from $155 million, or 8 cents per share, a year earlier.

Revenue fell 5.5 percent to $4.62 billion.
 
Bombardier’s Third-Biggest Holder Says CEO Needs More Time

Bloomberg.com
Posted: 08.14.15

Bombardier Inc.’s third-biggest shareholder said Chief Executive Officer Alain Bellemare will need more time to reverse the company’s fortunes, which include a sagging share price and credit downgrades.

“Bombardier is going through a difficult period,” Caisse de Depot et Placement du Quebec Chief Executive Officer Michael Sabia said. “Markets are impatient but you have to give Mr. Bellemare and the Bombardier management team the chance to do some things.”

Bombardier hired Bellemare in February after the Montreal-based plane- and trainmaker posted its first loss in 10 years amid delays and cost overruns with the new CSeries, its largest jet. Even so, the management shuffle has failed to halt the slide in Bombardier stock, which has lost 68 percent of its value in 2015 -- the second-worst performance among members of Canada’s benchmark Standard & Poor’s/TSX Composite Index.

Bombardier’s Class B shares fell 7.5 percent to C$1.35 at the close of trading in Toronto Friday. That’s the stock’s lowest closing level since April 1993, Bloomberg data show.

Fitch Ratings on Thursday became the third U.S. bond-rating company to downgrade Bombardier’s ranking in the past two weeks, citing its negative free cash flow. Fitch now rates Bombardier’s debt B, two levels below investment grade.

The Caisse is Bombardier’s third largest shareholder, according to data compiled by Bloomberg. It held 41.6 million Class B shares and 5.8 million Class A shares of the company as of the end of last year.

Cleaning House

Since his arrival, Bellemare has brought in new executives, ordered a strategic review of the company’s divisions and raised more than $3 billion in debt and equity. At its business-jet unit, Bombardier announced plans to cut 2,750 jobs and suspend work on the new Learjet 85. The company also plans an initial public offering of the rail unit later this year, a move that “makes sense,” Sabia said.

“Alain is rightly focused on issues of operational execution, which are important,” Sabia told reporters Friday on a conference call to discuss the pension fund manager’s first-half results.

With net assets of C$240.8 billion ($184.3 billion) as of June 30, the Caisse is Canada’s second-largest public pension-fund manager. It returned 5.9 percent in the first half of 2015.
 
Qui finisce malissimo...

Exclusive: Sources Say Bombardier Seeking Investors for All Business Units

Reuters.com
Posted: 09.30.15

Canada's Bombardier Inc is exploring the sale of a stake in any of its business areas, not just its rail unit, to ensure it can finish development of its delayed CSeries jet, according to four sources familiar with the situation.

The Montreal-based company has hired investment bankers to look at a variety of financing options, the sources said, including selling aerospace or rail assets in full or in part, forming joint ventures or bringing in private equity investors. One source familiar with the company's thinking said Bombardier hoped to secure some additional source of cash, through the sale of a business unit or another arrangement, perhaps with a Canadian government, before its third-quarter earnings report on Oct. 29.

Two of the sources said Bombardier's board was expected to meet in the next few days, but it was not immediately clear what was on the agenda.

A banking source said the company is not desperate for cash but wants to be proactive and shore up its stock, which has dropped more than 50 percent in the last year as it pushes to bring the new CSeries jet into service, years late and billions over budget.

If Bombardier announces a financing deal in the coming weeks, it may surprise some investors, coming less than a year after the company's last multi-billion dollar cash infusion. In February, Bombardier raised C$1.1 billion in equity and $2.25 billion in debt.

In May, the company said it planned to file late this year to launch an initial public offering for a minority stake in its rail unit, Bombardier Transportation.

Spokeswoman Isabelle Rondeau said on Wednesday that plan had not changed.

"Everything is on the table," said the source familiar with the company's thinking.

"They're aggressively looking worldwide for some sort of capital infusion. At the end of the day, they need more cash to keep the CSeries going, because the future of the company depends on that plane."

Asked about Bombardier seeking investors in other units, Rondeau said it "is exploring initiatives" in general.

"We will not discuss our activities in this regard or speculate on potential outcomes," she said. Bombardier's management and board members have run into concerns about the disproportionate number of votes held by the company's founding family, the Beaudoins, versus other key investors. The issue – a potential stumbling block to reaching agreements with potential investors - has been discussed with the family, said two of the sources.

Potential investors would be unwilling to put in money with unequal representation, one source said. The other source said the idea of diluting the power of the family's stake was under discussion.The Quebec government has repeatedly said it would be willing to bail out the plane-maker if needed, but has not specified what form its aid would take.

"We are in constant contact with Bombardier and won't comment on rumors," a spokeswoman for Quebec's economy minister said on Wednesday. …
 
http://www.forbes.com/sites


Bombardier And Airbus: This Does Not Look Good At All

Attendees take photographs of the new Bombardier Inc. CS100 airplane during a flying demonstration at the company’s facility in Toronto, Ontario, Canada, on Thursday, Sept. 10, 2015. (Kevin Van Paassen/Bloomberg)
Yesterday Reuters broke the story thatBombardier had approached Airbus about a possible deal in which Airbus would take a majority stake in the CSeries jetliner. Last night, Airbus issued a terse statement acknowledging that talks had taken place, but that these talks were now over. The Airbus statement will be remembered as the beginning of the end for a very troubled program.
First of all, Airbus has been a mortal enemy of the CSeries, and has done its best to block CSeries sales everywhere with its A319/320 (the re-engined A320neo series was launched as an aggressive response to the CSeries). Bombardier must have been desperate to approach them. The partnership sounds highly improbable, if not impossible. And Bombardier would have known that any rumor of these talks would badly weaken the market’s view of the CSeries’ viability as a commercial program.
By approaching Airbus, Bombardier must have believed that it had no alternatives, in two ways. On the first point, the company concluded that it needed a savior, one that could provide the capital needed to sustain the program and a worldwide support network for the aircraft. On the second, it concluded that Airbus was the only possibility to provide this salvation.
Bombardier’s reasoning on both of these conclusions was quite sound. For one, the company’s financials have been perilously weak for some time now. It could use the remainder of its cash to get the jet into service, but building the initial 50-100 jets would be extremely expensive too, and there are strong reasons to doubt that the company has the resources for this. The company also needs money to do the kind of aggressive deals needed to make the CSeries a success in the market. In theory, the order book is 243 aircraft; in reality, many of these are from customers who have expressed uncertainty about their commitments. Also, given Bombardier’s troubled record of new jetliner introductions, there were potential customers looking for a guarantee of a solid product support.
On the second point, Bombardier was right to conclude that there were no realistic alternative partners on the program. Rumors of a China partnership or acquisition have come and gone over the past five years, and have come to nothing. I’ve never liked the idea (seehere and here). Boeing has no interest in the CSeries. Neither does Embraer; the company decided years ago to not take on Airbus and Boeing, avoiding the big mistake Bombardier made. And nobody else is willing and able to provide the $3-6 billion needed to make this program successful, particularly when they wouldn’t see a return on this investment for many years.
What happens next? Since Bombardier lacks the resources to make the CSeries a commercial success on its own, and since we can’t foresee a partner, Teal Group expects the program to be cancelled. This is a pity, because the CSeries still looks like a very promising new jetliner. It might linger on for a year or two of initial production, but without an exit strategy this would merely serve to worsen Bombardier’s losses and jeopardize the company’s other units, particularly the essential business jet division.
The only issue now is to contain the damage and preserve the rest of Bombardier’s aerospace units. This may require a degree of Canadian government intervention.
 
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