The bailouts by the Quebec and Federal governments for Quebec-based Bombardier seem to have had little effect on quarterly results.
In fairness, the latest largess from the Feds in the form of an interest-free $372-million loan of your tax dollars has just been undertaken.
But the Quebec government has recently poured $2.5-billion of taxpayer money into the company.
In the fourth quarter, Bombardier’s business jet division, maker of Lear and Challenger jets, saw revenue fall by 21 per cent.
Revenue in the train making division fell 10 per cent and deliveries of the most highly vaunted, subsidized C-Series passenger jet continue to disappoint.
This after the company cut 14,500 jobs last year to overcome cost overruns and a delay of over two years in C-Series jet production.
The company lost U.S. $251-million in the quarter as taxpayers continue to underwrite the ongoing struggle for profits.