Company News

Bombardier reports quarterly loss, sees positive 2020 cash flow

MONTREAL, Feb 13 (Reuters) - Canadian plane and train maker Bombardier Inc on Thursday reported a quarterly loss, partly due to charges related to some rail contracts in Europe.

Bombardier said it expects 2020 free cash flow, excluding certain items, to be positive, compared with a cash outflow of $1.20 billion in 2019.

The company’s loss before interest and taxes was $1.70 billion in the fourth quarter ended Dec. 31, compared with a profit of $342 million a year earlier.

Earlier on Thursday, European planemaker Airbus reached a deal to buy the remaining stake of Bombardier in the A220 passenger jet program for about $600 million. (Reporting By Allison Lampert; additional reporting by Ankit Ajmera in Bengaluru; Editing by Sriraj Kalluvila)