Bombardier has terminated its contract with Grob Aerospace AG of Switzerland to develop the composite structure for the Learjet 85. Grob’s German affiliate filed for insolvency on August 18. In a statement released on September 18, Steve Ridolfi, president of Bombardier Business Aircraft, said, “Given the uncertainty surrounding Grob’s insolvency, Learjet has decided to terminate its agreement with Grob Aerospace, effective Sept. 17, 2008.
Bombardier has terminated its contract with Grob Aerospace AG of Switzerland to develop the composite structure for the Learjet 85. Grob’s German affiliate filed for insolvency on August 18. In a statement released this afternoon, Steve Ridolfi, president of Bombardier Business Aircraft, said, “Given the uncertainty surrounding Grob’s insolvency, Learjet has decided to terminate its agreement with Grob Aerospace, effective Sept. 17, 2008.
On Thursday, Bombardier reported a year-over-year revenue increase of 22 percent, to $4.9 billion, in its second fiscal quarter ending July 31, thanks in large part to its aerospace division. The company’s aerospace division contributed $2.5 billion of these revenues in the quarter, up from $2.2 billion in the same period last year.
General Electric has purchased the bulk of Bombardier Capital’s corporate aircraft leasing and financing business. The selling price of $339 million represents the “book value” of the loans and financial leases outstanding, Bombardier said.
Atlantic Coast Airlines in late May reached terms with Bombardier Aerospace on a revised delivery schedule for the remaining 42 CRJ200s on firm order after code-share partner United Airlines won a restraining order to prevent the Sterling, Va.-based regional from terminating its United Express contract.
With a fresh coat of paint and 60 hours of logged time under its wing since it started flying on March 7, the first of two flight-test versions of Bombardier’s new Global 5000 made its public debut at the week-long Paris Air Show last month.
Bombardier Aerospace yesterday signed a contract with China’s Shenyang Aircraft Corp. (SAC) to supply the center fuselages for the newly launched C-Series family of single-aisle airliners.
The contract between Bombardier and SAC is an integral part of the relationship with the state-owned aviation-industrial entity China Aviation Industry Corp. (AVIC I), of which SAC is a subsidiary.
Bombardier announced here yesterday the long-anticipated launch of its C-Series family of single-aisle airliners. The company also revealed that final assembly will occur in Mirabel, Quebec, laying to rest any speculation that production would move south of the U.S.-Canada border, specifically to Kansas City. Bombardier president and CEO Pierre Beaudoin called it “an historic day for Bombardier.”
Heartened by a recent WTO ruling against Canada for its support of Bombardier CRJ sales, Brazil’s Embraer has now turned its attention to its European competition, accusing the German government of illegally subsidizing the development of Fairchild Dornier’s 728 and 928 programs.
Pierre Beaudoin’s reign as Bombardier president and CEO began on June 4. The younger Beaudoin succeeded his father, Laurent–who will remain chairman of the board of directors–as the head of the Canadian transportation giant.