Bombardier cuts 2016 CSeries production forecast by more than half
The beleaguered Montreal-based plane maker blamed delayed deliveries from engine supplier Pratt & Whitney for the production cut
The Montreal-based company says the revised forecast is the result of delayed engine deliveries from its supplier, Pratt & Whitney.
The CSeries program is 2 1/2 years behind schedule and billions over budget.
Bombardier says it still expects to produce 90 to 120 of the CSeries aircraft per year by 2020 but in the near term 2016 revenue will be at the low end of its forecast range, which is between US$16.5 billion and US$17.5 billion.
It says the two CS100 planes that are already in service at Swiss International Air Lines have performed well and it expects to deliver a third CS100 jet to the airline next month.
The larger CS300 is expected to enter service with airBaltic in the fourth quarter.