UPDATE 2-Bombardier revenue rises; CSeries faces delivery delay

Thu Aug 1, 2013 2:40pm EDT
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* 2nd-qtr net earnings/shr $0.10 vs $0.08 year earlier

* Revenue rises 8 pct

* Entry-into-service expected 12 months from first flight

By Solarina Ho

Aug 1 (Reuters) - Canadian plane and train maker Bombardier Inc reported a 22 percent rise in second-quarter profit on Thursday as its train business grew, but pushed back the date when its all-new C-Series plane will be ready for delivery.

Bombardier Inc, the world's fourth largest planemaker and largest trainmaker, insisted the new plane would still enter service a year from the first flight. It has already pushed back that first flight three times and now says it is due to fly in the coming weeks.

"So we have a delay of two months from first flight, the entry into service will be two months delayed." Chief Executive Pierre Beaudoin said on a conference call with analysts and media.

The $3.4 billion CSeries program is Bombardier's ticket to the larger commercial jet market dominated by Boeing Co and Airbus. The CSeries is a single-aisle aircraft family with seating for up to 160 passengers.

Many industry observers have been skeptical about the company's target to put the plane into service by mid-2014, although Lufthansa, the CSeries launch customer, said last week it was not overly concerned by the latest delay.   Continued...