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PRESS RELEASE BOMBARDIER Bombardier Reports First Quarter 2021 Financial Results , Affirms Full Year Financial Guidance and Delivery Outlook • • • • Business jet revenues of $ 1.3 billion , up 18 % year - over - year , mainly driven by a favourable mix of large - cabin aircraft deliveries , including eight Global 7500 aircraft Adjusted EBITDA ( 1 ) from continuing operations of $ 123 million , up 43 % year - over - year , reflecting an improved aircraft mix , Global 7500 aircraft learning curve progress and cost structure improvements ; adjusted EBIT ( ¹ ) from continuing operations of $ 29 million . Reported EBIT from continuing operations for the quarter was $ 19 million Free cash flow usage ( ¹ ) from continuing operations of $ 405 million , including - ~ $ 100 million of non - recurring cash items ( 2 ) , an improvement of $ 357 million year - over- year . Reported cash flows from operating activities - continuing operations for the quarter was a usage of $ 372 million and net additions to PPE & intangible assets - continuing operations for the quarter were $ 33 million First quarter book - to - bill ( 3 ) > 1.0 on strong sales activity , which is expected to continue ( 4 ) into the second quarter Strong pro - forma liquidity ( 4 ) of $ 2.6 billion , which includes $ 0.6 billion in proceeds from sale of Alstom shares . Bombardier has deployed ~ $ 2.4 billion toward balance sheet deleveraging year - to - date , expected to reduce annual cash interest costs by ~ $ 200 million versus its 2020 debt servicing cost All amounts in this press release are in U.S. dollars unless otherwise indicated . Amounts in tables are in millions , unless otherwise indicated . Montréal , May 6 , 2021 - Bombardier ( TSX : BBD.B ) announced today its financial results for the first quarter of 2021 and affirmed its full year 2021 financial guidance and delivery expectations of 110-120 aircraft . “ In our first quarter as a pure - play business aviation company , Bombardier delivered solid financial performance , " said Éric Martel , President and Chief Executive Officer , Bombardier . “ This includes growth in business jet revenues , margin expansion and significantly improved cash performance . We also continue to make strong progress on each of our strategic priorities : maturing the Global 7500 aircraft program , delivering on our productivity initiative , executing our aftermarket growth strategy and deleveraging our balance sheet - setting the foundation for a more resilient and profitable business . " 1