Bombardier reports 57% rise in profits

From BBC - February 15, 2018

Bombardier, the train and plane manufacturer at the centre of a trade row between the US the UK and Canada has seen a 57% rise in profits.

The US Commercial department had threatened to impose 292% tariffs on its C-Series aircraft which employs some 4,000 workers in Belfast.

But the US International Trade Commission (ITC) rejected the complaint which had been made by Boeing.

Now, Bombardier says it is moving "into a strong growth cycle".

Bombardier's earnings before interest and tax for the whole of last year rose from $427m (304m) to $672m driven by rising sales and profits in its rail division.

Loses at its commercial aircraft division fell from $417m to $377m and profits at its business aircraft division rose 13%.

The US plane maker Boeing had originally complained that the C-Series had been sold to US airline Delta at "absurdly low prices", made possible by unfair subsidies to Bombardier from the British and Canadian governments.



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