Bombardier profits dropped to $190 million in the first quarter on a nearly 26% reduction of revenues year over year to $3.5 billion.
Pierre Beaudoin, Bombardier president and CEO, describes the decline of revenues during the quarter as "anticipated".
The company's focus on the pushing the Vision Flight Deck-equipped Global 5000 and Global 6000 into service had an impact on revenues, Beaudoin says.
A drop in commercial aircraft deliveries also damaged Bombardier's overall revenues, he adds. Bombardier delivered 37 aircraft during the first quarter, or 24 less than the same period last year.
The aerospace division accounted for a $687 million revenue shortfall compared to last year's first quarter, with revenues dropped from $2.22 billion to nearly $1.5 billion.
Source: Air Transport Intelligence news
