November 10, 2016 / 11:02 AM / 2 years ago

Bombardier posts smaller net loss

Nov 10 (Reuters) - Canadian plane and train maker Bombardier Inc reported a smaller third-quarter net loss compared with a year earlier, when the company booked non-cash charges of about $4.4 billion on its CSeries and Learjet 85 programs.

Bombardier delivered 36 business jets in the quarter ended Sept. 30, compared with 43 in the same period last year.

The company delivered 16 commercial aircraft in the quarter, two more than a year earlier.

Montreal-based Bombardier said last month it would cut 7,500 jobs, mostly in its train-making division, in the second round of layoffs this year, following extended delays and budget overruns in its aerospace business.

Bombardier’s net loss narrowed to $94 million, or 4 cents per share, compared with $4.88 billion, or $2.20 a share, a year earlier. Revenue fell nearly 10 percent to $3.74 billion.

The company posted an adjusted loss of $10 million, compared with a profit of $2 million, a year earlier. It broke even on a per share basis. (Reporting by Allison Lampert and Vishaka George in Bengaluru; Editing by Shounak Dasgupta)

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