News
Bombardier closes out 2013 with good and bad news

Bombardier Inc. says it has received a firm order for 10
Challenger 350 business jets worth US$259 million at list price.

The Montreal-based plane and train maker did not disclose the customer's name.

Bombardier Aerospace is one of the world's largest suppliers of
business jets, sold under a variety of brands including Challenger,
Global and Learjet.

Last week, Bombardier announced an order for five Challenger 300 jets and five Challenger 605 jets.

Meanwhile,
early on Tuesday,  Bombardier Inc. and Transport for London announced
they had reached a joint release agreement to part ways on a signalling
upgrade contract for London's transit system. 

London
Underground said Bombardier has completed some of the work on the
original 2011 contract but it will look for another company to finish
the job.

"Bombardier was awarded a contract in June 2011 following
a competitive tender process, and has already undertaken a great deal
of preparatory work," Transport for London said in its statement.

"A new unified control centre has already been constructed, which means the project is ready to be advanced further."

"However
due to the complex nature of the network and the nature of the work to
be carried out over the next five years, LU and Bombardier have taken
the decision that LU will re-let the contract and continue the works
with another contractor in the New Year."

The London
Underground said Bombardier will continue to supply S-Stock trains for
the four affected lines — Circle, District, Hammersmith & City and
Metropolitan lines.

Bombardier Transportation didn't provide a
detailed reason for the change but a London newspaper reported the
company's signalling system had proved to be incompatible with the
infrastructure.

The Telegraph's online edition reported that
Bombardier is expected to receive between 80 million and 85 million
British pounds for work completed, the equivalent of C$140 million and
C$150 million.