Bombardier Reports 2015 Results, Air Canada Orders Up To 75 CSeries Aircraft

Aerospace and transportation giant Bombardier Inc. released its financial results for the fourth quarter and full year ended December 31, 2015. The company reported total revenues of $18.2 billion for the year, supported by a substantial backlog of $59.2 billion, indicating significant future business.

A key development announced alongside the results is a letter of intent from Air Canada for up to 75 CSeries aircraft, specifically the CS300 model. This order, comprising 45 firm orders and 30 options, positions Air Canada as a major North American operator for the CSeries family, with deliveries expected to commence in 2019.

Bombardier's President and CEO, Alain Bellemare, described the results as part of a turnaround strategy. He highlighted efforts to de-risk major aircraft programs, secure liquidity, and optimize the global workforce, which resulted in approximately 7,000 position reductions.

For 2016, Bombardier projects revenues between $16.5 billion and $17.5 billion. The company anticipates margin improvements in its Transportation and Business Aircraft segments. However, the Commercial Aircraft division is expected to incur a negative EBIT due to the ramp-up costs associated with the CSeries program's initial production phases.