Tellier’s new vision for Bombardier no snow job
On the heels of posting a net loss of $418.6 million in the last fiscal year, due primarily to the stalled market for business jets and regional airliners,
On the heels of posting a net loss of $418.6 million in the last fiscal year, due primarily to the stalled market for business jets and regional airliners, Montreal, Quebec, Canada-based Bombardier announced a major recapitalization program last month.
The main ingredients of the recapitalization program include a change in accounting methods, a dividend cut, an equity offering of $544.4 million, an ongoing reduction of assets of Bombardier Capital and the sale of several “non-core” assets, including Belfast City Airport in Northern Ireland (a process that has actually been under way since October last year) and the consumer products division, which includes ATVs, outboard motors and Bombardier’s original product–snowmobiles.
