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Bombardier earnings down

Bombardier earnings fell in the latest quarter due to the weak business jet market, and the plane and train maker warned profitability in its transportation segment would be less than expected this year, sending its stock down seven per cent. The world’s third largest civil aircraft maker said the lingering effects of the economic downturn would still be felt this year. It reiterated its outlook for a 15 per cent drop in business jet deliveries and 20 per cent fewer commercial aircraft. Last year, Montreal-based Bombardier slashed nearly 5,000 jobs as it cut aircraft production. The company earned $179m in the fourth quarter, versus $312m a year ago.