Bombardier Falls Most Since March on Second-Day Show ShutoutEdward Dufner
Bombardier Inc. slumped the most since March as the second day of the Paris Air Show passed with no new aircraft orders or commitments for the maker of the CSeries jetliner.
While Embraer SA opened the expo with 32 firm sales for its largest E-jets, Bombardier failed to land a buyer for the similar CSeries, said George Ferguson, a Bloomberg Intelligence analyst. The CSeries made its debut at the expo this week while its commercial debut runs more than two years late.
“These are certainly CSeries sales-campaign losses,” Ferguson said. “Bombardier has been shut out in the first two days, it seems like there isn’t much more coming from this show, and orders have been placed for CSeries-sized aircraft. None of that is good news.”
The CSeries has struggled for commercial acceptance as Montreal-based Bombardier positions the plane to challenge to Boeing Co.-Airbus Group SE duopoly in the single-aisle jetliner market. Deutsche Lufthansa AG is the only carrier among the world’s top 20 by traffic that has ordered the CSeries.
Bombardier’s widely traded Class B shares fell 6.5 percent to C$2.45 at the close in Toronto, the biggest one-day drop since March 2. That dragged Bombardier to a year-to-date decline of 41 percent, the most among major Canadian industrial stocks.
On Monday, Lufthansa’s Swiss unit switched its order for 10 of the smaller version of the CSeries to take the larger model instead.
For more on the 2015 Paris Air Show, go here: Special Report
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