Bombardier says turnaround is 'in full motion'

Bombardier president and CEO Alain Bellemare stands next to a Global 5000 aircraft on Feb 7 2017 in Montreal

The first year of Bombardier's five-year recovery plan ended as promised, with the Canadian manufacturer recording a $981 million net loss overall, including a $903 million loss before interest and taxes in the Commercial Aircraft division. The company also said its turnaround plan "is in full motion".

Bombardier Global business jets, however, demonstrate superb takeoff and landing capabilities at such a terrain that are combined with the luxury interior and smooth ride provided by the aircraft.

Though the company lost almost $1 billion in 2016, that performance was sharply improved from a almost disastrous 2015, which yielded a $5.34 billion net loss.

Earlier this month Bombardier Business Aircraft announced that their Global aircraft have marked more than 2,500 takeoffs and landings at the Aspen/Pitkin County Airport since 2000.

Adjusted to exclude certain items, the Montreal-based company lost 7 cents a share, worse than the 3-cent loss analysts polled by Thomson Reuters were expecting.

"As we begin 2017, we are confident in our strategy, our turnaround plan and in our ability to unleash the full value of the Bombardier portfolio", said Bellemare.

Bombardier Inc. reported a wider-than-expected fourth-quarter loss as revenue declined in the company's two biggest units: business jets and trains.

Revenue fell to $4.38 billion from $5.02 billion, below the $4.64 billion analysts anticipated.

For the year, revenues were $16.3 billion, down 10 percent from 2015 year-end revenues.

For the fourth quarter ended December 31, Bombardier had a net loss of $259 million or 12 cents per share.

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