April 25, 2019 / 2:04 PM / a month ago

Bombardier shares plunge after full-year forecast cut

FILE PHOTO: A Bombardier trade pavilion is seen at Farnborough International Airshow in Farnborough, Britain, July 17, 2018. REUTERS/Toby Melville

(Reuters) - Shares of Bombardier Inc fell as much as 25.3 percent on Thursday after the Canadian plane-and-train maker cut its full-year profit and revenue forecast, wiping out more than C$1.5 billion off its market value.

The stock was down 18.5 percent at C$2.39 in early trading, making it the biggest loser on the Toronto Stock Exchange, after the company said delays in some large projects hit its dominant transportation unit that makes rail cars.

Reporting by Arathy S Nair in Bengaluru; Editing by Shinjini Ganguli

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