Bombardier CEO: embattled company not open to ‘fire sale’ of assets

By Staff The Canadian Press

Posted March 27, 2015 1:31 pm

1 min read

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Bombardier says it's going to reduce its aerospace workforce by about 1,000 employees in 2015. The cuts are due to weak demand for its Learjet business jets and will affect Bombardier sites in Mexico and Kansas. Fabrice Dimier/Bloomberg via Getty Images

MONTREAL — Bombardier’s new CEO said Friday the transportation giant won’t sell assets at “fire sale” prices to tackle its financial challenges, which have been accentuated by higher spending on its CSeries commercial aircraft.

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After winning shareholder support to issue new shares, Alain Bellemare said the aircraft and railway manufacturer doesn’t feel pressure to act hastily.

He also said the company continues to hope for certification of the new CSeries this year with deliveries beginning in early 2016.

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