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Bombardier/FD News

Wed Jun 05, 2002 2:51 am

MONTREAL, June 4 (Reuters) - Bombardier Inc. (Toronto:BBDb.TO - News) said on Tuesday it had completed a technical examination of the Fairchild Dornier 728 and 928 regional jet program and was proceeding with a commercial evaluation.

Speaking to reporters after Bombardier's annual meeting, Robert Brown, president and chief executive, cautioned Bombardier was not in due diligence regarding Fairchild's 728 and 928 program or assets. That means Bombardier will likely make a final decision only later this summer on whether to take up the 728 and 928 jet programs, Brown said.

"There is much work to do and we are far from a decision," he said.

Brown said development of insolvent Fairchild Dornier's 728 jet would probably cost about $400 million, while the 928 program would cost roughly $1 billion. He said Bombardier is not interested in any other Fairchild Dornier assets.

source: Reuters Company News

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RE: Bombardier/FD News

Wed Jun 05, 2002 3:04 am

We are only funded till June 30th is that summer time?

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RE: Bombardier/FD News

Wed Jun 05, 2002 3:12 am

I think they've made up there minds. But are going for the maximum in loan guarantees and concessions.
German banks will float FD for as long as their is an interested party--they've publicly said that.
I'd be fairly certain that they have already completed a certain amount of due diligence.

On pure speculation, I would want to see Boeing step in and take another look now that Stonecipher is retiring...

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