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Markets News

Bombardier posts loss as COVID-19 hits jet deliveries

Aug 6 (Reuters) - Bombardier Inc reported a loss for the second quarter on Thursday, as the Canadian plane and train maker was hit by fewer business jet deliveries due to the COVID-19 pandemic.

The company, which is expecting to be cash-flow positive in 2020, said its free cash outflow rose to about $1.04 billion in the quarter ended June 30, from $429 million a year earlier.

Adjusted loss before interest, taxes, depreciation and amortization was $319 million, compared with a profit of $312 million a year earlier. (Reporting By Allison Lampert and Ankit Ajmera; Editing by Shounak Dasgupta)

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