Yet more sorry news from Bombardier Aerospace in Belfast, who are to cut 580 jobs this year and a further 500 jobs could be lost next year, 2017.
"We deeply regret the impact this will have on our workforce and their families, but it is crucial that we right-size our business in line with market realities .... we will continue to evaluate all opportunities to significantly reduce our costs, improve our competitiveness, and boost our profitability." Company statement
Julian Bray aviation expert comments: It will not have escaped the departing workers, now facing a very uncertain future at the Belfast unit, until now Northern Irelands largest employer, that Bombardiers Canadian operations are still to an extent 'buffered' and 'protected,' possibly due to the $1billion grant from the State of Quebec in 2015. Rather than cut losses on the problematical C series jet, the Canadian firm has carried on. Downturn and oversupply in the business jet market hasn't helped either. The sad point being that aerospace skills are being lost, these are almost impossible to replace in the short to medium term.
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Bombardier Aerospace has been under financial pressure due cost overruns on the new problematical C Series jet and that much of its work is in partnership with other aerospace firms. So deflationary pressures elsewhere will have a direct bearing on Bombardiers fortunes...
The C Series programme received a C$1bn grant from the state government in Quebec last year.
Announcing its annual results Bombardier reported turnover down 9.5% in the year to December to $18.2bn. Pre tax profits dropped 40% to $554m.
However the firm announced that Air Canada has ordered 75 CSeries 300 jets.... but too late to save the job losses.
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