Weather grounds CSeries jet’s first flight

Bombardier has struggled with development program as price tag soars to $5.4B

Harsh winter weather including high winds in Montreal has delayed Thursday’s planned inaugural flight of Bombardier’s larger CSeries jet.

The decision to scrap the scheduled first flight of the CS300 came Wednesday, about 24 hours after the company had finalized the date. It has not offered a specific replacement date, though it anticipates it will occur either Friday or Saturday.

“There were final tests that needed to be done today to get a green light for tomorrow,” said Bombardier spokeswoman Marianella de la Barrera on Wednesday. “We had anticipated flurries but the high winds came in. As a result, we couldn’t complete the final stretch of tests.”

Bombardier is keen to have some good news since the Montreal-based company has struggled with the CSeries aircraft development program.

Costs have ballooned to $5.4 billion (U.S.), which exceeds the initial $3.4 billion price tag. The cost overruns have been blamed on delays to the program, including an engine fire last May that grounded all flight tests for months.

Earlier this month, Bombardier announced a shakeup of its executive suite, with Alain Bellemare taking over as president and CEO while Pierre Beaudoin, whose grandfather founded the firm, moves to become chairman.

The company also said it would try to generate up to $2 billion in cash through an equity offering and longterm debt.

Last week, Bombardier said it expects to raise $938 million (Canadian) from an equity offering, up from the previous estimate of $750 million. That total could rise to $1.08 billion if underwriters exercise an over-allotment option.

Bombardier has booked orders and commitments for 563 CSeries aircraft, which include firm orders for 243 CSeries airliners.

The CS300 plane is the larger version that can seat up to 160 passengers, while the CS100 plane is scheduled to enter commercial service later this year.