UPDATE 4-Bombardier cuts CSeries delivery forecast, adjusts revenue outlook

Tue Sep 6, 2016 2:27pm EDT
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* Cuts CSeries delivery forecast to seven from 15 aircraft

* Says FY revenue likely at low end of range

* Shares in Bombardier down 4.7 percent

* Lufthansa's Swiss to take fewer deliveries this year

* Bombardier reaffirms long-term production target (Adds analyst comment, updates shares)

By Allison Lampert

MONTREAL, Sept 6 (Reuters) - Bombardier Inc sliced in half the 2016 delivery forecast for its CSeries aircraft on Tuesday and said it expected full-year revenue to be at the lower end of its previously announced range.

The setback is the latest for the CSeries program, which took years to get off the ground and has been hit by production delays and cost overruns, causing the Montreal-based plane and train maker to agree to a C$1 billion ($774 million) investment from the Quebec government.

The company remained in talks with the Canadian federal government about possible funding, and some analysts said the delays could add to concerns about its financial strength.   Continued...