Will The Rally Continue? Bombardier, Inc. (OTCMKTS:BDRBF) Confirms Deal

Bombardier, Inc. (OTCMKTS:BDRBF) continued to gain momentum on Thursday, extending its weekly gains. The stock has moved up 18% over the past week.

Market Action

On Thursday, BDRBF stock gained 5.47% at $0.8543. The stock traded 2.12 million shares, compared to its average volume of 2.23 million shares.  The stock opened at $0.8200 and moved in a range of $ 0.8094 – 0.8700.

Bombardier Specialized Aircraft Confirms Deal with U.S. Air Force for up to Six More Global Aircraft in Special Mission Configuration

• confirmed an agreement between its Learjet Inc. subsidiary and the U.S. Air Force in support of the Battlefield Airborne Communications Node (BACN) program. The Indefinite Delivery Indefinite Quantity (IDIQ) contract provides the USAF with flexible ordering and includes an immediate firm order for one Global 6000 aircraft, with as many as five additional Global 6000 aircraft. The contract, which includes engineering and modification work, represents a potential total value of close to $465 million U.S.
• Bombardier has already delivered four Global aircraft to the U.S. Air Force since 2007 for the BACN program, an airborne relay that extends communication ranges, bridges between radio frequencies and “translates” among incompatible communications systems. BACN aircraft are known in the U.S. Air Force as the E-11A.
• Bombardier teams in the U.S., who continue to provide in-service support and upgrades to the current BACN fleet, are poised to begin work on the next BACN aircraft in the coming days. Engineers and technicians at Bombardier Specialized Aircraft’s Center of Excellence in Wichita, Kansas, will modify the Global platform to support the communications equipment required for the mission, while teams in Tucson will provide the aircraft’s interior and eventually perform the exterior painting work.

“Bombardier is proud to be chosen once again by the U.S. Air Force to provide our high-performing Global aircraft and our unique expertise in support of the BACN program,” said Michel Ouellette, Executive Vice President, Specialized Aircraft, Programs and Engineering, Bombardier. “Our U.S.-based employees are honored to be lending their skills in support of this elite project.”