Northern Ireland

Bombardier posts £194m loss in 'worst ever' financial period

Bombardier Image copyright Pacemaker
Image caption The period has been described as one of the company's "worst ever" financially.

Bombardier in Belfast has reported an operating loss of $280m (£194m) in 2015.

It has been described as one of the firm's "worst ever" financial periods.

The annual accounts of Short Brothers PLC - the company's Northern Ireland operation - warn "challenges will continue".

The Canadian parent company required a £1bn bail-out last year, as problems with its CSeries aircraft brought the business to its knees.

In February, it announced more than 1,000 jobs would be lost in Belfast.

'Cost reduction'

The accounts for its local division show a major reversal in fortunes from 2014, when Belfast posted a £73m operating profit.

The 2015 loss "effectively negates any profit the company has made this decade".

The losses mostly reflect "write-downs" on the CSeries programme - the wings for the aircraft are manufactured in east Belfast.

Paperwork filed with the accounts states: "The company is striving to win new contracts but ... it has been difficult to identify suitable new business.

"The current focus is to drive for further cost reduction, both internally and in our worldwide supply base."

More recently, Bombardier's fortunes have been boosted by a major order for CSeries from US airline Delta.

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