Bombardier Reports 2015 Results, Initiates Transformation Plan

Bombardier Inc. released its full-year 2015 financial results, reporting revenues of $18.2 billion and a backlog of $59.2 billion. The company also posted an adjusted pre-tax income of $554 million for the fiscal year, before special items.

The aerospace and transportation manufacturer announced a significant order from Air Canada for up to 75 CS300 aircraft. The C Series aircraft program has received its certification, with the first deliveries to SWISS scheduled to commence soon. Bombardier is initiating a transformation plan focused on margin expansion and cash flow generation.

For 2016, Bombardier anticipates revenues between $16.5 billion and $17.5 billion. As part of its restructuring efforts, the company has reduced its global workforce by approximately 7,000 positions. These measures aim to strengthen the company's competitive positioning and financial stability.

"We are transforming Bombardier to make this a great company that is even stronger and more competitive," said Alain Bellemare, President and CEO of Bombardier. He highlighted the C Series program's progress and the Air Canada order as a key strategic achievement.