Despite New Orders, Bombardier makes more cuts | Aviation International News

Despite New Orders, Bombardier makes more cuts

Bombardier announced plans to cut this year’s CRJ200 production by another 20 percent just days after Standard & Poor’s lowered the company’s credit rating

By AIN Staff • AIN Staff

January 29, 2007

Bombardier announced plans to cut this year’s CRJ200 production by another 20 percent just days after Standard & Poor’s lowered the company’s credit rating to junk status and issued a “negative” outlook for Bombardier’s regional jet prospects. S&P said it had lowered its ratings for the group by two notches from the weakest investment grade of BBB- to the speculative grade of BB, a change that could increase Bombardier’s borrowing costs.

The announcements came just days after Northwest Airlines converted options on ten 50-seat CRJ200s for assignment to code-share partner Pinnacle Airlines and Austria’s Styrian Spirit signed a firm order for a single 70-seat CRJ700.

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