The boost from Bombardier Inc.’s biggest aircraft order has vanished.
The stock has posted its worst month since January as the company’s marquee jetliner suffered another setback and concern deepened about business-aircraft demand. Bombardier’s shares fell below the level of April 27, the last trading day before the planemaker announced a $5.6 billion order for its C Series jets from Delta Air Lines Inc.
Delays in engine shipments from Pratt & Whitney prompted Bombardier to lower its C Series delivery forecast to seven planes this year from 15. That fueled questions about the planemaker’s cash flow and ability to ramp up production on the aircraft, which was two-and-a-half years late and more than $2 billion over budget when it made its commercial debut in July.
Bonds also have taken a hit of late. Bombardier’s 6.13 percent note due in 2021 traded at 99.72 European cents Wednesday, down from 104.83 cents at the end of August. That’s still up from a low of 76 cents in February.