Canadian plane maker Bombardier reports quarterly loss

Fri Aug 5, 2016 6:39am EDT
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Aug 5 (Reuters) - Canadian plane and train maker Bombardier Inc reported a quarterly loss, compared with a year-earlier profit, as sales fell and margins weakened in its commercial aircraft business.

Bombardier reported a net loss of $490 million, or 24 cents per share, for the second quarter ended June 30 compared with a profit of $125 million, or 6 cents per share, a year earlier.

Bombardier, which has been spending heavily on its new CSeries jets program, said free cash flow usage dropped to $490 million from $808 million.

The company had $3.34 billion in cash and equivalents at the end of June.

Revenue fell 6.7 percent to $4.31 billion. (Reporting by Amrutha Gayathri in Bengaluru and Allison Lampert in Montreal; Editing by Kirti Pandey)