Bombardier Pauses its Learjet 85 Program and Revises its 2014 Guidance

15-Jan-2015 Bombardier Inc. announced today the pause of its Learjet 85 business aircraft program. The pause is due to weak demand for the Learjet 85 aircraft and follows a downward revision of Bombardier's business aircraft market forecast. This reflects the continued weakness of the Light aircraft category since the economic downturn. As a result, the Company will record a pre-tax special charge in the fourth quarter of 2014 of approximately $1.4 billion mainly related to the impairment of the Learjet 85 development costs. Additionally, Bombardier will reduce its workforce by approximately 1,000 employees at its sites in Querétaro, Mexico, and Wichita, United States. A severance provision of approximately $25 million will be recorded as a special item during the first quarter of 2015.