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Bombardier Q2 Loss Widens

Bombardier (BBD_B.TO,BBD_A.TO) reported that its second-quarter net loss widened to $223 million from $36 million in the prior year.

Adjusted net loss attributable to equity holders of the company widened to $713 million or $0.30 per share from $101 million or $0.04 per share in the prior year.

Consolidated adjusted EBIT loss of $427 million reflecting charge at Transportation related to legacy projects and COVID-19 impact at both Aviation and Transportation; Reported EBIT of $26 million reflecting an accounting gain on the CRJ divestiture.

Consolidated revenues were $2.7 billion, down 37% year-over-year, reflecting a lower level of production activity and deliveries in the quarter as operations at key Aviation and Transportation sites across North America and Europe were temporarily suspended for several weeks due to the global COVID-19 pandemic.

Bombardier expects sale of its aerostructure business to Spirit AeroSystems Holdings to close this fall.

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