|Over a week ago|
Bombardier price target raised to C$1 from C$0.80 at CIBC » 11:5807/1407/14/21
CIBC analyst Kevin Chiang…
CIBC analyst Kevin Chiang raised the firm's price target on Bombardier to C$1 from C$0.80 and keeps an Underperformer rating on the shares.
Sundt Air adds third Bombardier Challenger Business Jet to fleet » 07:3407/1407/14/21
Bombardier and Sundt Air…
Bombardier and Sundt Air are pleased to announce the recent delivery of a brand-new Challenger 350 business jet. Sundt Air, an executive charter, aircraft management, and special mission company based in Norway, will manage the Challenger 350 business jet out of Oslo. The aircraft will be available for charter starting in July 2021.
Bombardier price target raised to C$1.80 from C$1.35 at BMO Capital » 12:1907/0707/07/21
BMO Capital analyst Fadi…
BMO Capital analyst Fadi Chamoun raised the firm's price target on Bombardier to C$1.80 from C$1.35 and keeps an Outperform rating on the shares.
Bombardier launches Certified Pre-owned aircraft program » 08:2807/0607/06/21
Bombardier announced the…
Bombardier announced the launch of the Bombardier Certified Pre-owned aircraft program, offering customers a premium class of pre-owned products. Each available aircraft is meticulously selected, inspected and updated to adhere to Bombardier's highest quality and safety standards. For buyers seeking a "like-new" experience, every Bombardier Certified Pre-owned aircraft is backed by an exclusive manufacturer one-year warranty. The company said, "Thanks to the Bombardier Certified Pre-owned aircraft program, customers can discover the high-quality array of available Bombardier business jets and sign up to receive alerts when an aircraft becomes available. As with all new Bombardier business jets, Bombardier Certified Pre-owned aircraft hold the promise of excellence in quality and reliability while demonstrating our commitment to maintaining the overall residual value of all Bombardier aircraft. Customers can count on Bombardier's unparalleled expertise and know-how as the OEM to access, refurbish and provide services for the most exclusive selection of Bombardier pre-owned aircraft on the market."
Bombardier receives order for 10 aircraft with total value of $451.8M » 17:1906/3006/30/21
Bombardier is pleased to…
Bombardier is pleased to announce that it has received a firm order for 10 aircraft from an existing customer. For competitive reasons, the order mix will also remain undisclosed at this time. This agreement represents a total value of $451.8M, according to current list prices. "We are filled with pride as we announce the year's largest business jet order," said Eric Martel, President and CEO, Bombardier. "Our portfolio ideally responds to the growing interest in private aviation, with spacious, high-performing aircraft that are designed to offer the best passenger experience in terms of convenience, comfort, air quality and a smooth ride."
Bombardier delivers first two Global 7500 aircraft to Canadian customers » 09:1606/3006/30/21
Bombardier announced that…
Bombardier announced that two of the industry-leading Global 7500 aircraft were handed over to two different Canadian customers, marking the first deliveries of the flagship business jet in Canada. Both aircraft will be managed and offered for charter by leading Canadian aircraft services provider, Chartright Air Group, and will be based at Toronto's Pearson International Airport.
|Over a month ago|
Bombardier announces one-day extension to cash tender offer » 07:4906/2506/25/21
Bombardier announced a…
Bombardier announced a one-business day extension with respect to its cash tender offer previously announced on June 3, 2021 to purchase for cash up to $1,000,000,000 aggregate purchase price of three series of its outstanding senior notes due 2022 and 2023 as identified in the Offer to Purchase, subject to the Acceptance Priority Levels and the 2023 Tender Cap, as applicable, and possible proration, as set forth in the Offer to Purchase containing the terms and conditions of the Tender Offer. Capitalized terms used but not defined herein shall have the meanings assigned to such terms in the Offer to Purchase dated June 3, 2021 with respect to the Tender Offer. The Tender Offer and the Offer to Purchase are hereby amended as follows: The expiration date of the Tender Offer shall be extended by one U.S. federal business day to July 1, 2021, due to the fact that on June 17, 2021, the United States declared June 18, 2021 to be a federal holiday in the United States.
Bombardier price target raised to C$1.55 from C$1.20 at TD Securities » 10:5506/1806/18/21
TD Securities analyst Tim…
TD Securities analyst Tim James raised the firm's price target on Bombardier to C$1.55 from C$1.20 and keeps a Speculative Buy rating on the shares.
Bombardier delivers first Global 7500 aircraft in Indonesia » 08:4506/1806/18/21
Bombardier announces the…
Bombardier announces the arrival of the first Global 7500 business jet in Indonesia. This aircraft was recently delivered to an undisclosed customer based in Jakarta. "Global aircraft are designed to deliver the ultimate in luxury, performance and smooth ride over long-distance flights, making them ideally suited to customers in the Asia-Pacific region who are looking to connect far-flung city pairs," said Nilesh Pattanayak, Regional Vice President, Sales, Asia Pacific, Bombardier. "The ultra-long-range Global 7500 aircraft opens up a world of possibilities for convenient and productive travel." Bombardier is significantly expanding its customer service footprint in the Asia-Pacific region with the creation of a state-of-the-art customer service centre at Essendon Fields Airport in Melbourne, Australia. The facility is targeted to be operational in 2022. Meanwhile, the ambitious expansion of Bombardier's Singapore Service Centre is ongoing. This site at the Seletar Aerospace Park will quadruple the operation's footprint, making it the largest OEM-owned business aviation maintenance facility in the region.
Bombardier announces normal course issuer bid » 08:0706/1106/11/21
Bombardier announces that…
Bombardier announces that it has received approval from the Toronto Stock Exchange to purchase, in the normal course of its activities, from June 15, 2021 to June 14, 2022, up to 62,000,000 Class B shares, representing approximately 2.9% of its Class B shares issued and outstanding as of June 2, 2021. As of June 2, 2021, the Corporation had 2,128,112,189 Class B shares issued and outstanding. All Class B shares purchased will be delivered to a trustee to satisfy future obligations under the Corporation's employee share-based incentive plans. Class B shares purchased under the normal course issuer bid will all be placed in trust with Computershare Trust Company of Canada pursuant to the Amended and Restated Employee Benefit Plans Trust Agreement dated August 6, 2015 between the Corporation and Computershare Trust Company of Canada, as amended, which Class B shares held in trust will eventually be used to settle the Corporation's obligations under its employee share-based incentive plans, including its performance share unit plan and its restricted share unit plan. The NCIB will be conducted through the facilities of the TSX or alternative trading systems, or by exempt offers, private agreements or block purchases. Purchases made on the open market through the facilities of the TSX and alternative trading systems will be at the prevailing market price at the time of acquisition. In the event the Corporation purchases Class B shares by exempt offers, block purchases or private agreements, the purchase price of the Class B shares may be, and will in the case of purchases by private agreement, as may be permitted by the securities regulatory authorities, at a discount to the market price of such Class B shares at the time of acquisition. The average daily trading volume on the TSX for the six-month period ended May 31, 2021 of the Class B shares was 7,457,368. Under TSX rules, a maximum daily repurchase of 25% of this average may be made, representing 1,864,342 Class B shares. In excess of the daily 1,864,342 Class B shares repurchase limit, the Corporation may also purchase, once a week, a block of Class B shares not owned by an insider, which may exceed such daily limit, in accordance with the TSX requirements. Transactions under the NCIB will depend on future market conditions. Bombardier retains discretion as to whether to make purchases under the NCIB, and to determine the timing, amount and acceptable price of any such purchases, subject at all times to applicable TSX and other regulatory requirements . Bombardier will be entering into an automatic share purchase plan in connection with its NCIB that contains parameters regarding how its Class B shares may be repurchased during times when it would ordinarily not be permitted to purchase Class B shares due to regulatory restrictions or self-imposed blackout periods. The automatic share purchase plan has been pre-cleared by the TSX and will be implemented effective as of June 15, 2021. Bombardier believes that the purchase of its Class B shares would be an effective use of its funds and in the best interests of Bombardier and its shareholders. The Corporation believes that buying back Class B shares from time to time at the prevailing market price is an effective strategy to enable it to satisfy its future obligations under its employee share-based incentive plans, including its performance share unit plan and its restricted share unit plan, and avoid dilution that could occur if such obligations were instead satisfied by way of treasury issuances.