May 11, 2017 / 10:06 AM / 2 months ago

Bombardier reports smaller quarterly loss

1 Min Read

May 11 (Reuters) - Canadian plane and train maker Bombardier Inc reported a smaller quarterly loss and said its Executive Chairman Pierre Beaudoin would step down.

Bombardier said Beaudoin will continue to serve as non-executive chairman.

Net loss narrowed to $31 million, or 2 cents per share, in the first quarter ended March 31, from $138 million, or 7 cents per share, a year earlier.

Montreal-headquartered Bombardier, which is in the midst of a five-year turnaround plan to improve results, reported an 8.6 percent fall in revenue to $3.58 billion. (Reporting by Arathy S Nair in Bengaluru; Editing by Shounak Dasgupta)

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