The bombardier aircraft CSseries is shown in Mirabel, Quebec as it is due to take off in this September 16, 2013 file photo. Bombardier Inc reported a quarterly profit that fell well short of expectations on Thursday amid heavy spending on the development its new CSeries jetliner - AFP Photo.
TORONTO: Bombardier Inc reported a quarterly profit that fell well short of expectations on Thursday and cut its 2014 earnings forecast as it spends heavily on developing its new CSeries jetliner, news that spurred downgrades of its credit rating and pushed its shares sharply lower.
The Montreal-based plane and train maker is spending billions to develop the CSeries, a high tech narrow-body plane that will compete with smaller passenger jets made by Boeing Co and Airbus Group, but the programme has been delayed four times and costs are rising.
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