UPDATE 4-Bombardier suspends plan for Russia venture; profit tops estimates

Thu Oct 30, 2014 1:46pm EDT
 
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* Q3 adjusted profit $0.12/shr vs est $0.09/shr

* Q3 revenue up 21 pct at $4.91 bln vs est $4.81 bln

* Q3 profit cut in half on charge for job cuts

* Lufthansa unit will not be CSeries launch operator (Recasts with news on Russia from conference call)

By Allison Martell

TORONTO, Oct 30 (Reuters) - Bombardier Inc reported quarterly earnings that topped expectations on Thursday and said it had put plans for a plane-building joint venture in Russia on hold due to political and economic conditions there, potentially jeopardizing a large Russian order.

The Canadian plane and train maker had been in talks with state-owned industrial and defense conglomerate Rostec to manufacture its Q400 turboprop in Russia, and sell 100 planes in the country.

"Given the political situation and the economy in Russia right now, we're setting this project aside for the time being, and we'll see what happens over the next number of months," Chief Executive Pierre Beaudoin said on a conference call.

Bombardier's shares were down 2.6 percent at C$3.81 at midday on the Toronto Stock Exchange.   Continued...