BDRBF - Bombardier to End Learjet Production in Bid to Boost Profits
Canadian aerospace manufacturer Bombardier (OTC: BDRAF) (OTC: BDRBF) said Thursday it would discontinue its classic Learjet brand as part of its continuing effort to boost profitability.
Bombardier is streamlining its business-jet operations and intends to focus on its Challenger and Global brands, which it says are more profitable. The company is discontinuing Learjet as part of a broader campaign aimed at cutting $400 million in annual costs, including reducing its workforce by 1,600 positions, by 2023.
A Learjet 75. Image source: Bombardier.
For further details see:
Bombardier to End Learjet Production in Bid to Boost Profits