Belfast Telegraph

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3. Shorts: Bombardier

  • Managing director: Michael Ryan
  • Pre-tax profit: £61.5m
  • Employment: 4,558
  • Pay bill: £219.5m

2016 was another challenging year for Bombardier, as the corporation entered the second of a five-year global turnaround plan to restore it to profitability. Following a loss in 2015, Bombardier’s Northern Ireland operations recorded reduced revenues in 2016 and a pre-tax profit of $76.3m. Despite this, there was an overall deficit of $158m in capital and reserves – largely impacted by the retirement benefits scheme deficit.

Over the past year, as part of the global drive to recover performance, more than 1,000 workers were let go from the Belfast operations.

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