Bombardier posts $220 million Q1 profit

Toronto: Canadian aerospace and rail transport equipment major Bombardier on Wednesday posted $220 million profit for the first quarter and sweetened things further by announcing a new $665  million order by Sweden to buy 10 C-series jets. The Swiss order for this series, first since February 2010, ends a long drought. 

It is also the first major order for the Montreal-based Bombardier after a $446-million order by India's SpiceJet in December to buy 15 turboprop aircraft.

SpiceJet is the first Indian airline to order the next-generation aircraft.

Bombardier's quarterly results represent a more than 12 per cent jump over the $195 million gains posted for the same period last year.

Its quarterly revenue, at $4.7 billion, was up 9 per cent, from $4.3 billion in the previous fiscal.

Bombardier is one of the few Canadian companies with a major presence in India as it is a supplier of railway cars to Delhi Metro and has a manufacturing facility at Savli near Baroda.