Bombardier’s Aviation-segment has reported revenues of US$1.2 billion during the second-quarter, reflecting a lower level of production activity and deliveries as the corporation suspended business aircraft operations in Canada and key aerostructures operations in Mexico and Belfast due to the COVID-19 pandemic.
Starting in the last weeks of April and through the month of May, operations gradually resumed with new safety measures in place, allowing Aviation to deliver 20 business aircraft during the quarter, including five Global 7500s. Bombardier’s worldwide customer service operations have continued to operate largely uninterrupted throughout the pandemic. Service centers have shown resilience maintaining a high level of activity at maintenance facilities, partially offset by lower revenues related to the decrease in customer flight utilization.
Adjusted EBITDA and adjusted EBIT margins of 4.5% and (1.6%), respectively, reflect lower volumes during the quarter as result of disruptions from the global COVID-19 pandemic, combined with low contribution of early Global 7500 units. Reported EBIT of US$442 million during the quarter reflects the US$496 million accounting gain on the disposal of the CRJ Series aircraft program to Mitsubishi Heavy Industries, Ltd.
As operations recover in the second half of the year, aircraft deliveries are set to accelerate relative to the first half of the year, towards a seasonal peak in the fourth quarter, supported by Aviation’s US$12.9 billion backlogEmail Post to a Friend