Air Transport World

Bombardier to focus on aerospace, transportation, sell other units. (Regional News).(Brief Article)

Bombardier Inc. will sell its recreational products division, issue new stock and cur dividends as it struggles to reduce its debt burden and return to financial health after losing C$6 15.2 million ($418 million) in the fiscal year ended Jan. 31. In the prior year, Bombardier had restated earnings of C$31 million. Company officials anticipate that the sale of the snowmobile and jet ski product lines will raise C$1.5 billion. When combined with a stock offering of C$800 million, that will produce more than C$2 billion in new liquidity. Bombardier also confirmed it is in negotiations to sell its Defense Services business and Belfast City Airport.

The disposals will leave the company with its Transportation and Aerospace units, including its highly successful line of regional jets, the Q series of turboprops and its corporate aircraft. …

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