Exciting quarter for transportation arm of Bombardier

Derby-based train manufacturer Bombardier has reported a 20% increase in the Transportation arm of its business in results released today.

Revenue at the firm rose slighly for the three months to September 30th, up to $3.8bn but net losses widened to $117m.

The firm has announced an order for 61 C Series aircraft, including 31 from a European operator.

“This was a very exciting quarter for Bombardier as we welcomed Airbus to the C Series program,” said Alain Bellemare, president and Chief Executive officer, Bombardier. “This is a game-changing step for Bombardier. It positions the C Series program for long-term commercial success and will generate new and sustainable value for our customers, suppliers and shareholders.”

“We also continue to make solid progress executing our turnaround plan, and are very much on track to achieve the goals we set out in November 2015,” Bellemare continued.

“We have clearly demonstrated our ability to reduce costs, improve productivity and grow margins. We have executed on our growth programs and we are taking big strategic steps necessary to unlock the full value of our portfolio.”