Bombardier hails "very good" turnaround progress

Bondholder Bombardier has reported "very good progress" globally with revenues of £2.5 billion for the three months to the end of June 2016.

In the first six months of the year, revenues reached £4.82 billion, a fall on the £5.27 billion reported for the first half of 2015. The company said the decline was down to a "planned reduction in business aircraft revenues", adding that its transportation division had experienced a "solid" quarter.

We delivered on our financial commitments, achieved our program milestones and positioned Bombardier to meet both our full year guidance and 2020 goals.
— Alain Bellemare, President and Chief Executive at Bombardier

President and Chief Executive Alain Bellemare said: "We continue to make very good progress executing our turnaround plan. We delivered on our financial commitments, achieved our program milestones and positioned Bombardier to meet both our full year guidance and 2020 goals."