Revenues fall at Bombardier – but losses narrow

Bombardier has posted a near 10% fall in third-quarter revenue, due to lower business-aircraft revenue.

The firm, which has a significant base in Derby, said its loss narrowed significantly in after it was hit by a large charge on two jet programs a year ago.

Bombardier Transportation, which makes trains in Derby, also saw a 10% loss in revenue for the three months to 30 September – down from £1.985bn in 2015 to £1.782bn this year.

Last month, Bombardier said it was preparing to cut 7,500 jobs – the second time it has shaved 10% off its workforce this year.

Around two-third of the cuts will be in its rail division.

Bombardier says the reason behind the move is that it has too many sites producing similar components.

It is not known how many jobs will be lost in Derby (if at all). A spokesperson for Bombardier Transport told TheBusinessDesk.com: “There will be further announcements on the impact on the transport business in specific countries/sites over the next few weeks.”