Bombardier Concludes Sale of its Business Aircraft Training Unit to CAE

MONTRÉAL, March 14, 2019 (GLOBE NEWSWIRE) -- Bombardier today confirmed the conclusion of the previously announced sale of its flight and technical training activities to CAE, for an enterprise value of $645 million. Net proceeds are expected to be approximately $500 million after the assumption of certain liabilities, fees, and closing adjustments.

"Bombardier and CAE share a deep commitment to providing outstanding support to their customers,” said Jean-Christophe Gallagher, Vice President and General Manager, Customer Experience, Bombardier Business Aircraft. "Bombardier’s talented employees and strong relationships with clients, combined with CAE’s network and expertise, will elevate the customer experience. As CAE grows its core training business, Bombardier continues to expand its service offerings and dedicated support, each to the benefit of Bombardier Business Aircraft customers around the world.”

Bombardier and CAE also agreed to continue their Authorized Training Provider (ATP) relationship pursuant to which CAE carries out the training activities for Bombardier Business Aircraft, including from the training centres located in Montréal and Dallas.

About Bombardier
With over 68,000 employees across four business segments, Bombardier is a global leader in the transportation industry, creating innovative and game-changing planes and trains. Our products and services provide world-class transportation experiences that set new standards in passenger comfort, energy efficiency, reliability and safety.

Headquartered in Montreal, Canada, Bombardier has production and engineering sites in 28 countries across the segments of Transportation, Business Aircraft, Commercial Aircraft and Aerostructures and Engineering Services. Bombardier shares are traded on the Toronto Stock Exchange (BBD). In the fiscal year ended December 31, 2018, Bombardier posted revenues of $16.2 billion US. The company is recognized on the 2019 Global 100 Most Sustainable Corporations in the World Index. News and information are available at bombardier.com or follow us on Twitter @Bombardier.

Bombardier is a trademark of Bombardier Inc.

For Information

Patrick Ghoche
Vice President, Investor Relations
Bombardier Inc.
+1 514 861 5727

FORWARD-LOOKING STATEMENTS

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Certain factors that could cause actual results to differ materially from those anticipated in the forward-looking statements include, but are not limited to, risks associated with general economic conditions, risks associated with our business environment (such as risks associated with "Brexit”, the financial condition of the airline industry, business aircraft customers, and the rail industry; trade policy; increased competition; political instability and force majeure events or global climate change), operational risks (such as risks related to developing new products and services; development of new business and awarding of new contracts; book-to-bill ratio and order backlog; the certification and homologation of products and services; fixed-price and fixed-term commitments and production and project execution, including challenges associated with certain Transportation’s legacy projects and the release of working capital therefrom; pressures on cash flows and capital expenditures based on project-cycle fluctuations and seasonality; risks associated with our ability to successfully implement and execute our strategy, transformation plan, productivity enhancements, operational efficiencies and restructuring initiatives; doing business with partners; risks associated with the Corporation’s partnership with Airbus and investment in CSALP; risks associated with the Corporation’s ability to continue with our funding plan of CSALP and to fund, if required, the cash shortfalls; risks associated with the Corporation’s ability to successfully integrate our acquisition of Triumph’s Global 7500 wing manufacturing operations and assets; inadequacy of cash planning and management and project funding; product performance warranty and casualty claim losses; regulatory and legal proceedings; environmental, health and safety risks; dependence on certain customers, contracts and suppliers; supply chain risks; human resources; reliance on information systems; reliance on and protection of intellectual property rights; reputation risks; risk management; tax matters; and adequacy of insurance coverage), financing risks (such as risks related to liquidity and access to capital markets; retirement benefit plan risk; exposure to credit risk; substantial existing debt and interest payment requirements; certain restrictive debt covenants and minimum cash levels; financing support provided for the benefit of certain customers; and reliance on government support), market risks (such as risks related to foreign currency fluctuations; changing interest rates; decreases in residual values; increases in commodity prices; and Inflation rate fluctuations). For more details, see the Risks and uncertainties section in Other in the MD&A of the Corporation’s financial report for the fiscal year ended December 31, 2018. With respect to the Pending Transactions discussed herein specifically, certain factors that could cause actual results to differ materially from those anticipated in the forward-looking statements include, but are not limited to: the failure to receive or delay in receiving regulatory approvals, or otherwise satisfy the conditions to the completion of such strategic actions and transactions or delay in completing and uncertainty regarding the length of time required to complete such strategic actions and transactions, and the funds and benefits thereof not being available to Bombardier in the time frame anticipated or at all; alternate sources of funding that would be used to replace the anticipated proceeds and savings from such strategic actions and transactions, as the case may be, may not be available when needed, or on desirable terms. Accordingly, there can be no assurance that any of the Pending Transactions will occur or that the anticipated benefits will be realized in their entirety, in part or at all. There can also be no assurance as to the completion, the form, or the timing of any BT Holdco buy-back.

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