Bombardier in the red as it exits A220 programme
The fourth quarter's earnings before interest and taxes (EBIT) were 1.7 billion dollars in the red, the company said in Montreal on Thursday. In the same period last year, the company's EBIT was 342 million dollars in the black.
The reason for the sharp decline is, among other things, high costs in the European railway business.
Bombardier initially did not respond to media reports that the division was to be sold.
Speculation about an upcoming deal with the French train manufacturer Alstom had boosted shares the previous day.
Bombardier's revenue decreased 2 per cent to 4.2 billion dollars in the three months to the end of December.
The company made a net loss of 1.6 billion dollars for fiscal year 2019, compared to 318 million dollars profit in the previous year. Annual revenue decreased 3 per cent to 15.8 billion dollars.
Bombardier is in dire financial straits and had already announced that it would exit its last major aircraft-manufacturing programme before it presented its results for 2019.
Airbus and the Canadian province of Quebec have taken over Bombardier's remaining stake in the joint venture for the short and medium-haul jet A220.
