Bombardier: Losses shrank in the quarter

Bombardier announced lower quarterly adjusted losses as the aircraft maker generated more revenue from its aircraft flagship sales to affluent travelers who flew more and more privately because of the pandemic.

The company announced that the outstanding balance increased by $ 1.3 billion to $ 13.5 billion from the beginning of 2022, as wealthy passengers continued to fly privately despite the recovery of air traffic.

The company stressed that adjusted EBITDA increased 36% in the first quarter thanks to higher profits from sales of the flagship Global 7500 aircraft and cost-cutting measures.

The company’s cash flows from continuing operations stood at $ 173 million, up from $ 405 million a year ago.

Bombardier announced adjusted losses of 3 cents per share in the quarter compared to losses of 7 cents per share a year ago.

Revenue fell 7% to $ 1.2 billion as delivery time fell until later this year.