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Bombardier to sell 5 jets to Iraqi Airways for $387 million

DUBAI (Reuters) - Bombardier <BBDb.TO> has signed a letter of intent to sell five CSeries jetliners to Iraqi Airways, the Canadian plane and train maker said on Tuesday. Iraq's national carrier will acquire five of the CS300 jets with options for 11 more planes, the company said in an announcement at the Dubai Airshow. The order is valued at $387 million at list price. However, with the options, the deal would be worth $1.26 billion. Iraq Airways currently operates six of Bombardier's CRJ900 NextGen regional jets.

DBRS downgrades Bombardier on weaker results, cash burn in aerospace division

MONTREAL - DBRS has downgraded Bombardier's issuer rating one notch to BB (low) with a stable trend after the transportation giant last week reported weaker third-quarter results. The rating service said the actions mainly reflect concerns that the heavy use of cash by Bombardier's aerospace division to develop aircraft like the CSeries will continue longer than originally expected. DBRS had placed the Montreal-based company's ratings under review in August due to the large use of free cash flow associated with the CSeries, along with high debt and weaker earnings.

Indonesia's Lion Group eyes Bombardier order

The parent company of Indonesia's Lion Air said Wednesday it hopes to strike a deal for at least 50 Bombardier passenger jets next year, a purchase with a list price of more than $3 billion. It would be the latest huge bet on Indonesia's booming aviation sector by Lion Group, which has in recent years struck two of the world's largest plane orders, worth $46 billion. The company was hoping to complete the deal with Canadian manufacturer Bombardier for at least 50 new medium-range CS300 aircraft early next year, said Leithen Francis, head of public relations at Lion Group.

Bombardier CEO says CSeries on track despite only four test flights in six weeks

MONTREAL - Bombardier's CSeries testing program remains on track even though the next-generation airliner has had only three more test flights since the jet flew for the first time in mid-September, the company says. Bombardier, which reported disappointing third-quarter financial results Thursday and saw its stock fall more than 10 per cent, said the latest flight took place on Wednesday and lasted 90 minutes. Chief executive Pierre Beaudoin assured analysts on a conference call that the CSeries testing is "happening exactly as predicted."

Pratt & Whitney Canada will create 90 new jobs and work on new aircraft engine

LONGUEUIL, Que. - Pratt About $80 million of the funding will be spent to build three new production lines devoted to making high-tech components for the company's new PurePower engine, which recently powered the first flight of Bombardier's new CSeries jet. The company said the engine is known for its energy efficiency, fewer emissions and noise reduction.

Bombardier identifies Chinese company as secret buyer of CSeries aircraft

Bombardier has finally disclosed a closely held secret by identifying one of China's top leasing companies as a previously unnamed customer for up to 30 of its new CSeries aircraft. The Chinese buyer, CDB Leasing Co. Ltd., known as CLC, placed a conditional order for five CS100 and 10 CS300 aircraft in July 2012. The deal also provides an option on an additional five CS100s and 10 more CS300s. Based on list prices, the initial contract would be worth about US$1.02 billion, or US$2.07 billion if all options were exercised.

Bombardier says China's CDB Leasing may buy 30 CSeries aircraft

(Reuters) - Bombardier Inc <BBDb.TO> said China's CDB Leasing Co Ltd may buy an additional 15 CSeries jetliners, potentially taking its total order to 30 aircraft worth about $2 billion, based on list prices. The company announced in July 2012 a conditional order from an undisclosed customer for five CS100 and 10 CS300 jetliners. Bombardier on Friday disclosed that the customer was CDB Leasing and said that the purchase agreement also included options on an additional five CS100 and 10 CS300 aircraft.

Lion Air CEO eyes new Bombardier jets, says airline could launch largest model

MONTREAL - The head of one of Asia's fastest growing airlines says it could place the largest order to date for Bombardier's CSeries and become the launch customer for the larger of the two fuel-efficient airplanes being developed by the Canadian aircraft manufacturer. "I think, when I order, we are going to be the biggest at that time," Lion Air CEO Rusdi Kirana said Thursday during a news conference, a day after visiting the first CSeries test plane in Mirabel, Que., and meeting with senior Bombardier (TSX:BBD.B) executives.

Bombardier says in talks with Lion Air on possible CSeries deal

TORONTO (Reuters) - Bombardier Inc <BBDb.TO> is in talks with Indonesia's Lion Air on a possible sale of its CSeries jets, the Canadian company said on Thursday. "Normally we don't comment on negotiations with the customers, but definitely we are in discussions with them, so hopefully we'll be able to finalize a deal in a few months," said Marc Duchesne, Director, Public Affairs and Communications, Bombardier Commercial Aircraft. (Reporting by Solarina Ho; Editing by Gary Hill)

Bombardier says cost of CSeries rose to $3.9 billion

MIRABEL, Quebec (Reuters) - Bombardier Inc <BBDb.TO> said on Monday that the cost of developing its CSeries jetliner had climbed to about $3.9 billion from its previous estimate of $3.4 billion. Michele Arcamone, president of Bombardier Commercial Aircraft, said at a news conference that the figure had gone up as the development progressed and the costs became more clear. He said the aim is to keep the cost below $4 billion. The updated figure came on the day the new aircraft made its first flight.
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