Bombardier in Contact With Canadian and Quebec Governments - Faces Anger Over Executive Compensation
Click Like to Follow Fliegerfaust Facebook page to get the News ASAP / Share to share this post now.
June 19, 2020 - by NICOLAS VAN PRAET for theglobeandmail.com
Bombardier Inc., burning cash as it tries to weather the novel coronavirus pandemic, is in contact with the Canadian and Quebec governments about its financial situation but has not made a request for help, according to its chief executive.
The company has seen an increase in activity for both its private jet business and train unit over the past three weeks as more people start flying again and countries reopen their economies, Eric Martel told reporters on a call on Thursday after its annual meeting.
Although the company continues to use up a significant amount of cash, he said it has other options to raise funds that are preferable to requesting government support.
The company is "not ruling out the possibility" of seeking financial aid, Mr. Martel said. "For now...
- Bombardier? “It's a story of corporate arrogance, greed and ... ›
- Charles Bombardier Priority #1 : "keeping control of the company ... ›