Log In

 
Company : Business Wire 
Monday, September 13, 2004 12:44PM IST (7:14AM GMT)
 
(BW)(BOMBARDIER-AEROSPACE)(BBD.A.TO)(BBD.B.TO)
Bombardier Aerospace Maintains Regional Jet Delivery Schedule
Total Aircraft Deliveries Not Affected by US Airways Bankruptcy Filing
 
Montreal, Canada

Bombardier Aerospace (TSX:BBD.A) (TSX:BBD.B) announced today that the US Airways' filing for bankruptcy protection will not affect total aircraft deliveries for this fiscal year.

As of September 10, 2004, there were 45 Bombardier CRJ aircraft (comprised of two CRJ200(i) and 43 CRJ700(i)) yet to be delivered to US Airways from the original order of 85 aircraft signed in May 2003.

Twelve of these aircraft were scheduled to be delivered in the remainder of the current fiscal year 2004/05 (year ending January 31, 2005).

Of the 12 aircraft scheduled for delivery in the remainder of this fiscal year, eight will be taken by GE Capital Aviation Services (GECAS) in accordance with the original purchase agreement, leaving only four aircraft to be reconfigured for other airline customers. GECAS will also take delivery of an additional eight aircraft in the first two quarters of fiscal year 2005/06. The remaining US Airways aircraft deliveries have been deferred over the next two fiscal years as previously announced on July 27, 2004.

CRJ production rates will not be affected in the near term and total Bombardier Aerospace aircraft deliveries for the current fiscal year will remain as previously announced, approximately the same number as was delivered in fiscal year 2003/04.

"Faced with the financial uncertainty of particular customers, Bombardier Aerospace has been proactively managing its delivery schedule in recent months in order to reduce its exposure to aircraft that may be deferred or cancelled," said Pierre Beaudoin, President and Chief Operating Officer, Bombardier Aerospace.

"The reduction of the CRJ200 production rate, the negotiation of agreements for the deferral of aircraft deliveries and other such measures have and will ensure we continue deliveries according to our plan."

"Despite the unfortunate financial difficulties of some of the major carriers, the regional aircraft industry remains strong with regional routes among the most profitable for the airlines," he added.

Regional jet city-pairs serviced by Bombardier CRJ aircraft have grown 48 per cent in the last 19 months while Bombardier CRJ departures have increased by 54 per cent. In addition, industry forecasts for aircraft in the 70- to 120-seat range predict production of over 3,700 regional aircraft from 2004 to 2013 representing a value of over US $84 billion.

About Bombardier

A world-leading manufacturer of innovative transportation solutions, from regional aircraft and business jets to rail transportation equipment, Bombardier Inc. is a global corporation headquartered in Canada. Its revenues for the fiscal year ended Jan. 31, 2004 were $15.5 billion US and its shares are traded on the Toronto, Brussels and Frankfurt stock exchanges (BBD, BOM and BBDd.F). News and information are available at www.bombardier.com.

(i)Trademarks of Bombardier Inc. or its subsidiaries

www.aero.bombardier.com

 
 
 
Submit your press release
More News from Business Wire

04/10/2018 6:50PM

Corporate Social Responsibility Related News Releases and Story Ideas for Reporters, Bloggers and Media Outlets

Following are the latest Corporate Social Responsibility news releases and story ideas available from Business Wire. These recaps, curated by Business Wire, provide reporters and bloggers around the globe instant access ...

27/09/2018 6:40PM

Corporate Social Responsibility Related News Releases and Story Ideas for Reporters, Bloggers and Media Outlets

Following are the latest Corporate Social Responsibility news releases and story ideas available from Business Wire. These recaps, curated by Business Wire, provide reporters and bloggers around the globe instant access ...

20/09/2018 6:46PM

Corporate Social Responsibility Related News Releases and Story Ideas for Reporters, Bloggers and Media Outlets

Following are the latest Corporate Social Responsibility news releases and story ideas available from Business Wire. These recaps, curated by Business Wire, provide reporters and bloggers around the globe instant access ...