Bombardier close to winning CSeries certification: sources
By Tim Hepher and Allison Lampert
(Reuters) - Canada's Bombardier (BBDb.TO: Quote) meets with investors on Tuesday with certification for its CSeries passenger jet "very close," according to sources familiar with the matter, but with no new orders imminent.
Certification of the new jetliner, targeted for the end of the month, is expected within days as Bombardier finalizes documentation with Canadian regulators, the sources said.
"Certification is now very, very close," one source said.
Bombardier spokeswoman Marianella de la Barrera on Monday reiterated the company's target of "certification by the end of the year."
A Transport Canada spokeswoman said Tuesday she could not comment on the CSeries certification process because it is "confidential, third-party information."
The Canadian company, which is holding its annual investor day in New York on Tuesday, said last week it had finished flight testing of the aircraft due to enter service with Lufthansa (LHAG.DE: Quote) subsidiary SWISS in the first half of 2016.
Coming hard on the heels of agreements for cash infusions from the Quebec government, certification would bring a further boost to Bombardier and its attempt to penetrate the main segment of jet market dominated by Airbus (AIR.PA: Quote) and Boeing (BA.N: Quote).
However, the Canadian firm faces the challenge of ramping up production, dealing with any cost overruns or snags on entry to service and securing new orders to try to recover lost momentum. Continued...