features Bombardier’s smooth flight to a new era at Pearson Airport

Bombardier has completed the transition of its flagship product line from historic Downsview Airport to a massive new assembly centre at Pearson without skipping a beat.
Avatar for Frederick K. Larkin By Frederick K. Larkin | May 13, 2024

Estimated reading time minute, 53 seconds.

Back in 2015, Bombardier reported a net loss of US$5.3 billion on revenues of US$18.2 billion. Its balance sheet at year end 2015 had total net debt of US$6.2 billion and shareholders’ equity of negative US$4 billion.

Survival depended upon significant surgery. To pay down debt, massive divestitures were made. These included the world’s leading railway equipment manufacturer and four aircraft programs—the CL-415 amphibian, the Q400 turboprop, the CRJ regional jets, and the CSeries airliners.

On June 7, 2018, Bombardier sold its Downsview property in Toronto to the Public Sector Pension Investment Board. The net proceeds were more than US$550 million. That 370-acre site was home to Bombardier’s Global corporate jet family.

Continue reading this feature article in the April/May 2024 issue of Skies magazine.

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