Bombardier Inc B Stock Price, News & Analysis

Bombardier reported preliminary Q1 2021 results with business jet revenues projected at $1.3 billion, reflecting an 18% year-over-year increase. Expected EBIT and adjusted EBITDA stand at $19 million and $123 million, respectively. Free cash flow usage is anticipated at $405 million, including around $100 million in non-recurring items. The company aims to deliver 110-120 business aircraft this year. In a separate note, Bombardier launched consent solicitations regarding its senior notes following claims of covenant breaches, which it contests as unmerited.

Bombardier has been recognized with the 2021 Mercure Award in the Health and Safety category by the Fédération des chambres de commerce du Québec. This award acknowledges the company's exemplary health and safety program which was adapted rapidly during the COVID-19 pandemic. Measures included creating 'work bubbles' and extensive training, ensuring employee safety while maintaining operations. Furthermore, Bombardier is contributing to the vaccination effort in Quebec, partnering to establish a vaccination hub at its Dorval facility.

Bombardier has appointed Ève Laurier as Vice President of Communications, Public Affairs, and Marketing, effective mid-May 2021. Reporting directly to CEO Éric Martel, Laurier will enhance community engagement and brand strategy. She brings over 20 years of experience, previously serving as General Manager at Edelman. Martel emphasized Laurier's leadership and creativity as vital for advancing Bombardier's business aviation strategy. The company also acknowledged Mike Nadolski's departure after five years. Bombardier continues to be a global aviation leader, supporting around 4,900 aircraft worldwide.

Bombardier will release its first-quarter 2021 financial results on May 6, 2021, followed by a virtual Annual Meeting of Shareholders. The quarterly conference call for investors is scheduled for 8:00 a.m. EDT the same day, where management will discuss the company’s performance. Investors can join via webcast or telephone. The meeting for shareholders is set for 10:30 a.m. EDT, allowing registered shareholders to vote and participate in discussions.

Bombardier has opened a new Line Maintenance Station at Geneva Airport, enhancing its customer service network in Europe. This facility is the tenth worldwide and the seventh in Europe, supporting a growing fleet of Challenger and Global business jets. It features 10,000 sq m (over 107,000 sq ft) of hangar space, providing comprehensive maintenance services by certified technicians. This expansion is part of Bombardier's strategy to increase its Services and Support footprint by 50% globally, including new service centers in locations like Berlin, Miami, London, and Singapore.

Bombardier announced the expiration of its cash tender offer to purchase up to US$1.57 billion of its senior notes due 2021, 2022, and 2023. The offer, which expired on April 16, 2021, saw the company accept and purchase approximately US$955 million of 2021 Notes, US$316 million of 2022 Notes, and US$225 million of 2023 Notes during the early settlement. Additional notes were tendered prior to the expiration date, with final settlements expected on April 20, 2021. Executive Vice President Bart Demosky emphasized the importance of this action in reducing debt and annual cash interest costs.

Bombardier has received regulatory approval for the installation of Viasat’s Ka-band in-flight connectivity system on Challenger 300 and Challenger 350 aircraft, enhancing in-flight internet speeds. This approval, issued by the FAA and EASA, allows operators to benefit from the fastest available connectivity in the super midsize segment.

With this installation, Bombardier enhances its worldwide support network, offering improved cabin experiences and connectivity for passengers and crew.

Bombardier announced that VistaJet has ordered 10 Challenger 350 business jets and taken delivery of its first two Global 7500 aircraft. This order responds to increased demand in the super midsize jet segment. The Challenger 350 is known for its performance and cabin experience, making it a popular choice in private aviation, especially during the pandemic. Bombardier celebrates the milestone 50th delivery of the Global 7500, noted for its range and comfort, reinforcing their commitment to meeting evolving market needs.