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Bombardier Reports 4th Quarter and Full Year 2018 Results

February 14, 2019 / WIL BALDWIN

-EBIT before special items(1) up 42% year-over-year to more than $1.0B on revenues of $16.2B for the year; EBIT increased 235% year-over-year to $1.0B

-2018 EBIT margin before special items(1) up 180 bps year-over-year to 6.3%; EBIT margin of 6.2%

-Full year free cash flow(1) of $182M, comprising proceeds from certain transactions, including $1.0B of cash generation in the fourth quarter; full year cash flows from operating activities of $597M

-Strong backlog growth at Business Aircraft and Transportation, with full year book-to-bill ratios(2) of 1.1 at both segments, and a consolidated backlog of $53.1B

-2019 guidance affirmed, clear path to achieve 2020 objectives

Bombardier (TSX: BBD.B) today reported its fourth quarter and full year 2018 results, highlighting solid margin growth, improved cash flows and continued progress executing its turnaround plan. The successful entry-into-service of the Global 7500 business jet in the fourth quarter also marked the completion of Bombardier’s heavy investment cycle, a key milestone in the company’s turnaround plan.

“2018 was a year of solid progress,” said Alain Bellemare, President and Chief Executive Officer, Bombardier Inc. “We continued to strengthen our business and set a strong foundation for growth. A foundation that includes a refreshed portfolio of best-in-class products, industry-leading backlogs and a more streamlined cost structure, all of which gives us a clear path to achieve our 2020 objectives.”

“As we begin the fourth year of our turnaround journey, Bombardier is a much stronger company,” continued Bellemare. “Our major program risks are retired, our heavy investment cycle is behind us and our franchises are well positioned for growth. For 2019, we are focused on flawless execution of our rail projects, the ramp-up of the Global 7500 and entry-into-service of the Global 5500 and Global 6500. We will also continue to drive financial performance through disciplined capital allocation and improved productivity and efficiency across the organization.”

Bombardier’s 2018 consolidated revenues reached $16.2 billion, reflecting 3% average year-over-year growth across Transportation, Business Aircraft and Aerostructures, excluding currency impact. Book-to-bill ratios(2) at Transportation and Business Aircraft both equaled 1.1 for the year, demonstrating strong demand for Bombardier’s products and services. Bombardier’s consolidated backlog reached $53.1 billion at the end of 2018, supporting future growth targets.

EBIT before special items continued to improve in 2018, increasing 42% year-over-year from $725 million to more than $1.0 billion, the top-end of the company’s guidance. The 6.3% EBIT margin before special items in 2018 represents a strong 330 bps increase since the start of the turnaround plan in 2015, well above the 5-6% range originally targeted. On a reported basis, EBIT increased 235% year-over-year to $1.0 billion, representing a margin of 6.2%.

Bombardier generated $1.0 billion of free cash flow in the fourth quarter of 2018. Full year free cash flow generation equaled $182 million, at the high end of the company’s revised guidance. This amount includes aggregate net proceeds of approximately $750 million from the sale of the Downsview property and the monetization of royalties associated with the previously announced CAE transaction. Cash flows from operating activities amounted to $597 million for the full year, and to $1.3 billion in the fourth quarter. Bombardier ended the year in a solid cash position, with $3.2 billion in cash and cash equivalents.

Selected results

SEGMENTED RESULTS AND HIGHLIGHTS

Business Aircraft

Business Aircraft achieved a historical milestone in December 2018 with the on plan service entry of the largest and longest range industry flagship Global 7500 aircraft. With a strong backlog and unsurpassed performance in its category, the Global 7500 is expected to be Business Aircraft’s key growth driver for years to come.

Revenues, EBIT before special items and deliveries were in line with guidance for 2018.

The segment achieved industry leading deliveries at 137 aircraft for 2018, including 42 Global, 83 Challenger and 12 Learjet.

Continued progress on the aftermarket strategy drove a 14.3% revenue increase year-over-year. Further expansion of our service network was also announced with the groundbreaking for a new centre in Miami, Florida to service U.S. and Latin American customers.

During the year, Business Aircraft unveiled the new Global 5500 and Global 6500 aircraft featuring an all-new Rolls-Royce engine and a newly optimized wing, increasing the aircraft range and fuel burn performance. With flight testing at advanced stages, these performance-leading aircraft are expected to enter into service at the end of 2019.

Commercial Aircraft

In 2018, Commercial Aircraft significantly reshaped its portfolio, focusing on the CRJ Series program and its aftermarket business, while also participating in the growth of the A220 through its partnership with Airbus:

The C Series Partnership (CSALP) with Airbus closed on July 1, 2018, bringing together two complementary product lines and the benefit of Airbus’ global reach, creating significant value potential for the newly rebranded A220.

A definitive agreement was reached with Longview Aircraft Company of Canada Limited for the sale of the Q Series aircraft program assets, including aftermarket operations and assets, for gross proceeds of approximately $300 million, on November 7, 2018. The transaction is expected to close by the second half of 2019, subject to customary closing conditions and regulatory approvals. Net proceeds for this transaction are expected at approximately $250 million net of fees, liabilities and normal closing adjustments.

Revenues and aircraft deliveries for 2018 were in line with guidance on the basis of the deconsolidation of CSALP results from Commercial Aircraft since July 1, 2018.

EBIT loss before special items(11) was $157 million reflecting for the most part losses on the C Series program in the first half of the year and the post-closing CSALP equity pickup. EBIT loss of $755 million includes a $616 million pre-tax accounting charge related to the closing of the CSALP transaction.

Commercial Aircraft continues to actively participate in the regional aircraft market with the established scope-compliant CRJ Series aircraft, with a focus on reducing costs and increasing volumes while optimizing the aftermarket for the large installed base in service around the world today. As the focus is to return the program to profitability, Bombardier also announced in 2018 it is exploring strategic options for the program.

Aerostructures and Engineering Services

Aerostructures and Engineering Services is positioned as a key supplier on early life cycle growth programs, including the new A220 and Global 7500 aircraft, expected to drive sustainable growth.

In 2018, the segment revenues grew 21% year-over-year to $2.0 billion in line with guidance.

Focused execution during the ramp-up of these programs and a one-time favorable item (approximately 50 bps) associated with the closing of the C Series Partnership have enabled to deliver 9.6% EBIT before special items, above its guidance. EBIT margin for the segment was 7.5%.

On February 6, 2019, the Corporation acquired the Global 7500 aircraft wing program operations and assets from Triumph Group Inc., for a nominal cash consideration. This transaction is expected to strengthen Bombardier’s position as a leading aerostructures manufacturer, to enable the company to leverage its extensive technical expertise to support the ramp-up of the Global 7500 aircraft, and to enhance its long-term success. Bombardier will continue to operate the production line and integrate the employees currently supporting the program at Triumph’s Red Oak, Texas facility.

On February 7, 2019, Paul Sislian was appointed President, Aerostructures and Engineering Services. Paul brings more than 20 years of aerospace and industrial experience, including serving most recently as Chief Operating Officer for Bombardier Business Aircraft.

Transportation

On February 7, 2019, Danny Di Perna was appointed President, Bombardier Transportation. Danny brings more than 30 years of industrial experience to this new role. He has a proven record of success leading complex industrial projects and organizations, driving operational efficiency and improving quality. Most recently, Danny led Bombardier’s Aerostructures and Engineering Services segment.

In 2018, Transportation recorded orders totaling $9.9 billion, fueled by a $3.3 billion order intake in the fourth quarter. Book-to-bill(2) reached 1.5 for the fourth quarter, resulting in a 1.1 ratio for the full year, continuing to position the segment for growth in revenues and profitability, supported by strong industry fundamentals.

Order intake for the year reflects project wins across geographies, with notable contract awards in Europe, led by SNCF’s repeat order in France, in Asia led by the Singapore Metro contract, and North America with Airport and Mass transit mobility solutions for Phoenix and Los Angeles.

The backlog reached $34.5 billion as at December 31, 2018. The backlog growth (excluding currency fluctuations) was supported by a stronger mix of platform projects and increasing signalling and service contract orders, consistent with Transportation’s strategy to increase speed-to-market; provide customers with end-to-end solutions; de-risk project execution while also growing margins.

Subsequent to the fourth quarter, in January 2019, Transportation was awarded a contract to supply 113 new generation passenger rail cars valued at $669 million with options for up to 886 additional cars, by the New Jersey Transit Corporation.

Financial performance for 2018 positions Transportation to reach 2019 guidance:

Revenues grew 4% year-over-year to $8.9 billion, in line with guidance, supported by a favourable currency impact in the first half of the year (2% growth excluding currency impact). Services and signalling grew to over 34% of revenues for the year, as increasing focus turns to integrated customer solutions.

EBIT before special items grew to $750 million for the year, representing an 8.4% margin (EBIT of $774 million, or 8.7% margin). Fourth quarter margins before special items were 7.7% (10.9% EBIT margin), as a result of contract estimate adjustments largely associated with a legacy project, resulting in full year margins before special items, slightly below the 8.5% guidance.

As discussed at the Company’s December 2018 Investor Day, Transportation continues to advance a number of legacy projects. The Company has plans in place and is taking actions to finalize system integration, obtain homologation and align delivery schedules with customers. Bombardier expects to substantially complete deliveries on most of these projects and significantly recover working capital through 2019.

As the portfolio continues to improve, Transportation anticipates growing EBIT margins before special items to approximately 9% for 2019, in line with guidance.

CDPQ Investment in BT Holdco

The Company also announced that Transportation’s results in 2018 did not reach the performance targets underlying Caisse de dépôt et placement du Québec’s (CDPQ) investment in BT Holdco. Accordingly, for the 12-month period starting on February 12, 2019, Bombardier’s percentage of ownership on conversion of CDPQ’s shares will decrease by 2.5%, returning to the original 70%; and the preference return entitlement rate on liquidation of its shares will increase from 7.5% to 9.5% for this period. Any dividends paid by BT Holdco to its shareholders during this period will be distributed on the basis of each shareholder’s percentage of ownership upon conversion, being 70% for Bombardier and 30% for CDPQ. These adjustments will become effective once the audited consolidated financial statements of BT Holdco are duly approved by its board of directors.

Headquartered in Montréal, Canada, Bombardier has production and engineering sites in 28 countries across the segments of Transportation, Business Aircraft, Commercial Aircraft and Aerostructures and Engineering Services. Bombardier shares are traded on the Toronto Stock Exchange (BBD). In the fiscal year ended December 31, 2018, Bombardier posted revenues of $16.2 billion. News and information are available at bombardier.com or follow us on Twitter @Bombardier.

Story and images from http://www.bombardier.com

Canada’s Answer to Tesla Is a $15,500 Electric 3-Wheeler

February 13, 2019 / WIL BALDWIN

(Bloomberg) — It’s all-electric like a Tesla. It’s priced like a Ford Fiesta. It’s one of the oddest-looking vehicles you’ve ever seen — and it may just redefine the commuter car.

As General Motors Co. prepares to shut the plant near Toronto that got car-making started in Canada more than a century ago, a new model is taking shape in a tiny production facility in Vancouver’s outskirts.

Meet the Solo — a one-seater vehicle made by Electra Meccanica Vehicles Corp. that costs $15,500. By December, 5,000 will be zipping around the streets of Los Angeles, with an additional 70,000 to be delivered over the next two years across the West Coast. Electra Meccanica may have a market value of just $80 million, yet it has $2.4 billion in pre-orders. The stock almost doubled in New York Wednesday.

Click the link for the full story! https://finance.yahoo.com/news/tesla-apos-latest-competitor-15-220000179.html

The company also has designs on the 4-wheel market…

Airbus Orders Decline as A380 Shutdown Questions Mount

February 11, 2019 / WIL BALDWIN

Airbus acknowledged reports last Thursday that Quantas has cancelled an order for its 8 remaining A380 aircraft. The announcement comes on the heels of Emirates re-evaluating its decision to add on to its remaining Super Jumbo order book.

Qantas Airlines of Australia confirmed it would not take any more of the world’s largest airplane, operating a fleet of 12 aircraft, instead of the 20 it had originally ordered. This news comes on the heels of Airbus’ largest A380 customer Emirates beginning discussions with Airbus over the possibility of changing some, or all, of its remaining A380 orders to smaller A350 or A330neo models after failing to secure an engine contract from Rolls-Royce for the last A380 order it placed.

Airbus has declined to comment on the future of the A380 at this time, but reports indicate that an announcement could come as soon as this Thursday.

Airbus also reported the cancellation of an order for five of its smallest aircraft, the 110-seat A220-100. The identity of the A220 buyer was not disclosed, but is widely believed to be the Swiss-based business charter carrier PrivatAir, which filed for insolvency at the end of 2018. PrivatAir had placed an ordered for 5 of the type, the Canadian Bombardier CS100 at the time of the order, in early 2012.

CP and Hapag-Lloyd Renew Long-Term Agreement

January 25, 2019 / WIL BALDWIN

Canadian Pacific Railway Limited (TSX: CP) (NYSE: CP) and Hapag-Lloyd AG (XETR: HLAG) (FWB : HLG) today announced an extension of their long-term agreement to the benefit of the international supply chain, the movement of cargo through the ports of Montreal and Vancouver, and the overall North American economy.

“We are incredibly proud to continue to work with Hapag-Lloyd,” said Keith Creel, CP President and CEO. “This long-term agreement is built on service, reliability and trust. On behalf of the 13,000-strong CP family, particularly those on the ground who ensure we provide exceptional service, we are excited to continue to work closely with Hapag-Lloyd as their preferred rail carrier in Canada.”

In close collaboration, the two companies have built a track record of reliable service on sea and on land for their customers.

“Customers expect reliable supply chains, and in CP we have found a company that delivers consistently, every day,” said Rolf Habben Jansen, CEO of Hapag-Lloyd. “With CP we are able to handle more cargo and take advantage of shorter routes to key markets, and provide long-term value to our customers.”

The agreement will allow Hapag-Lloyd’s customers to benefit from CP’s growing network of transload facilities, its innovative live-lift operation at Portal, North Dakota, and the fastest transit times between Vancouver and the Twin Cities, Chicago and beyond.

From Vancouver and Montreal, CP connects its customers to markets across Canada and the United States. CP’s intermodal franchise has the lowest on-dock dwell and best on-time performance at the Port of Vancouver and Port of Montreal, ensuring faster end-to-end transits for shippers.

Note on forward-looking information

This news release contains certain forward-looking information and forward-looking statements (collectively, “forward-looking information”) within the meaning of applicable securities laws. Forward-looking information includes, but is not limited to, statements concerning expectations, beliefs, plans, goals, objectives, assumptions and statements about possible future events, conditions, and results of operations or performance. Forward-looking information may contain statements with words or headings such as “financial expectations”, “key assumptions”, “anticipate”, “believe”, “expect”, “plan”, “will”, “outlook”, “should” or similar words suggesting future outcomes. This news release contains forward-looking information relating, but not limited to, the success of our business, our operations, priorities and plans, as well as anticipated financial and operational performance, including with respect to CP’s network of transload facilities and anticipated increases in cargo service.

Story and images from http://www.cpr.ca

Canadian Pacific Railway Sees Record-Setting 2019

January 25, 2019 / WIL BALDWIN

TORONTO/BANGALORE, Jan 23 (Reuters) – Canadian Pacific Railway Ltd expects double-digit earnings growth in 2019, the country’s second-biggest rail operator said on Wednesday, lifted by strong pricing and growing demand for shipments of crude and other commodities.

The Calgary-based company, which got a sizeable revenue lift from crude in its fourth quarter, said it expects crude shipments will increase to an annual run rate of approximately 120,000 rail cars in the second quarter from about 100,000 currently.

Reporting a bigger-than-expected profit, despite higher fuel costs, CP also forecast double-digit growth in diluted earnings per share in 2019, from C$14.51 in 2018, and mid-single-digit volume growth.

“The two most striking things were they did well on the pricing …and they did just a fantastic job of keeping their costs in line,” said Edward Jones analyst Dan Sherman. “It sounds like they just see pretty solid sailing going forward.”

CP’s operating ratio, a closely watched productivity metric that measures operating expenses as a percentage of revenue, improved by 370 basis points to 56.5 percent in the fourth quarter.

While railways are sensitive to economic downturns or major shifts in trade, CP said it has not seen a downturn in its international intermodal container business in January or February, despite a surge of volume late in the fourth quarter.

“We entered 2019 with tremendous momentum,” said Chief Executive Keith Creel on a conference call with analysts. “Rest assured, we’re poised for another record-setting year.”

CP said it recently struck a multi-year agreement with Suncor Energy that is a C$20 million near-term opportunity that could double in later years. It also struck a multi-year deal to ship refined fuels to Southern Ontario, but did not disclose the customer.

Growing crude shipments come as output from Western Canada has outstripped pipeline capacity, prompting producers to increasingly sign transport deals with CP and its larger rival, Canadian National Railway Co.

Cenovus Energy Inc said in September it had signed three-year deals with CP and CN to transport roughly 100,000 barrels per day of crude from Northern Alberta to the U.S. Gulf Coast.

For the quarter ended Dec. 31, CP reported earnings of C$ 4.55 per share, excluding items, beating the C$4.22 consensus estimate, according to IBES data from Refinitiv.

Net income fell 45 percent, to C$545 million, compared to year-ago results buoyed by a C$527 million income-tax gain.

Revenue rose 17 percent to C$2.01 billion.

($1 = 1.3347 Canadian dollars)

(Reporting by Susan Taylor in Toronto and Shanti S Nair in Bengaluru; editing by Sriraj Kalluvila and James Dalgleish)

Airbus Seeks Hefty Cost Cuts for A220 Jet

January 14, 2019 / WIL BALDWIN

MONTREAL (Reuters) – Europe’s Airbus is looking for a “significant double-digit” percentage reduction in costs for a recently acquired Canadian jet program, as it expands production capacity to cope with anticipated demand for the former Bombardier jet.

Philippe Balducchi, head of an Airbus-led venture which took over production of the loss-making A220 last year, indicated the bulk of the reduction in costs would come from the supply chain as Airbus uses its greater clout in negotiations for parts.

Other savings would come from more efficient operations as workers gain experience of building the lightweight 110-130-seat jet, whose deliveries doubled to 33 aircraft last year.

But overall economies will go “way beyond” what Airbus can achieve internally on the assembly line, Balducchi said.

“Our focus is to sell, ramp up (production) and reduce costs on the A220,” Rob Dewar, head of engineering and customer support, added during a media briefing on the jet, which was known as the CSeries until Airbus took control in July 2018.

The A220 consortium, which also includes Bombardier and the Quebec government, is spending some $30 million to expand its Mirabel production plant outside Montreal and will break ground this week on a new assembly line in Alabama for U.S. airlines.

Airbus meanwhile said the Canadian-developed A220 jet had won approval to fly up to three hours away from the nearest airport in the event of a shutdown of one of its two engines – a safety standard which underpins its use on longer-range routes.

The green light has been given by Canada, while approvals in the United States and Europe are pending, Airbus officials said.

The extended operations or ETOPS approval affects the number of routes the plane can fly over water or remote areas.

(Reporting by Tim Hepher; editing by Richard Lough and Jan Harvey)

Image from http://www.airbus.com

Airbus achieves new commercial aircraft delivery record in 2018

January 10, 2019 / WIL BALDWIN

Deliveries total 800 aircraft, 11 percent higher than in 2017
Net orders total 747, backlog increases to 7,577 aircraft

Airbus SE (stock exchange symbol: AIR) delivered 800 commercial aircraft to 93 customers in 2018, meeting its full year delivery guidance and setting a new company record. Deliveries were 11 percent higher than the previous record of 718 units, set in 2017. For the 16th year in a row now, Airbus has increased the number of commercial aircraft deliveries on an annual basis.

In total, the 2018 commercial aircraft deliveries comprise:

20 A220s (since it became part of the Airbus family in July 2018);
626 A320 Family (vs 558 in 2017), of which 386 were A320neo Family (vs 181 NEOs in 2017);
49 A330s (vs 67 in 2017) including the first three A330neo in 2018;
93 A350 XWBs (vs 78 in 2017);
12 A380s (vs 15 in 2017).

In terms of sales, Airbus achieved 747 net orders during 2018 compared with 1,109 net orders in 2017. At the end of 2018, the backlog of Airbus commercial aircraft reached a new industry record and stood at 7,577 aircraft, including 480 A220s, compared with 7,265 at the end of 2017.

“Despite significant operational challenges, Airbus continued its production ramp-up and delivered a record number of aircraft in 2018. I salute our teams around the globe who worked until the end of the year to meet our commitments,” said Guillaume Faury, President Airbus Commercial Aircraft. “I am equally pleased about the healthy order intake as it shows the underlying strength of the commercial aircraft market and the trust our customers are placing in us. My gratitude goes out to all of them for their ongoing support.” He added: “As we look to further increase our industrial efficiency, we will continue making the digitalisation of our business a key priority.”

Over the last 16 years, Airbus has steadily increased its production year-by-year with the final assembly lines in Hamburg, Toulouse, Tianjin and Mobile complemented by the addition of the A220 line in Mirabel, Canada, during 2018. A notable contribution to Airbus’ delivery increase in 2018 came from the final assembly lines in the US and China. For the top-selling A320 Family in particular, the Final Assembly Line (FAL) in Mobile, Alabama, saw its 100^th delivery, and is now producing in excess of four units per month. Meanwhile, Airbus’ “FAL Asia” in Tianjin, China, achieved its 400^th A320 delivery, while in Germany Airbus commenced operations of its new, fourth production line in Hamburg. Overall, the A320 programme is on track to achieve rate 60 per month for the A320 Family by mid-2019. The Airbus teams successfully reached an important industrial milestone for the A350, achieving the targeted rate of 10 aircraft per month.

Airbus will report Full Year 2018 financial results on 14 February 2019.

Footnote:
The Full-Year 2018 net orders and backlog represent the contractual view. The Full-Year 2018 backlog value will be measured under IFRS 15 and will reflect the recoverable amount of revenues under these contracts. A significant reduction in order backlog value is expected mainly due to the adjustment for net prices versus list prices. The FY 2017 backlog will not be restated.

Story and image from http://www.airbus.com

Fly Jamaica Boeing 757 Damaged In Georgetown, Guyana

November 12, 2018 / WIL BALDWIN

Six passengers suffered non-life-threatening injuries on November 9th, when a Fly Jamaica Boeing 757 made an emergency landing at the Georgetown, Guyana international airport. The aircraft reported technical problems with the plane’s hydraulic system as it climbed through 19,000 feet on its way from Cheddi Jagan International Airport in Georgetown, Guyana to Toronto, Ontario, Canada.

The airplane was carrying 120 passengers and eight crew, and requested permission to return to Guyana shortly after take-off, Guyana officials stated. The plane reportedly overshot the runway upon landing at approximately 2:53 a.m. local time. The runway had recently been extended, an airport official stated.

The Guyana Civil Aviation Authority has launched an investigation, with the assistance of the U.S. National Transportation Safety Board. Officials from Boeing are also looking into the incident. The aircrafts right under carriage collapsed after the aircraft ran off the runway, causing severe damage to the airframe.

You can view a summary of the incident at the Youtube video link below!

Fly Jamaica Guyana Emergency Landing

Image from my-island-jamaica.com

IAG’s Aer Lingus Boss Stephen Kavanagh To Step Down

October 11, 2018 / WIL BALDWIN

(Reuters) – International Airlines Group (IAG) (ICAG.L) said on Thursday that Aer Lingus chief executive Stephen Kavanagh will step down on Jan. 1, 2019 and will be succeeded by Sean Doyle, a British Airways director.

Kavanagh, who will remain with Aer Lingus as a non-executive director, is stepping down to pursue other interests, after a career that spanned over three decades at the Irish airline, with the last four in the top job.

IAG Chief Executive Willie Walsh credited Kavanagh with modernizing Aer Lingus, the flag carrier of Ireland founded by the government in 1936.

Doyle, who hails from Cork, Ireland, is also the director of network, fleet and alliances at IAG-owned British Airways.

IAG also said Mike Rutter, chief operating officer of Aer Lingus, has extended his contract with the airline.

(Reporting by Shariq Khan in Bengaluru; Editing by Kirsten Donovan and Emelia Sithole-Matarise)

In other Aer Lingus news:

Meet Montreal and Minneapolis-St. Paul

Minnesota’s twin cities, Minneapolis-St. Paul, join Montreal, the largest city in Canada’s Québec province, as the latest additions to our expanding transatlantic network.

Ireland’s first direct Minneapolis-St. Paul service will operate daily from 8th July 2019, with fares from €249 each way, as part of a return trip.

Our new daily Montreal route will take off on 8th August 2019, with fares from €239 each way, as part of a return trip.

Union Pacific Announces Unified Plan 2020

September 17, 2018 / WIL BALDWIN

OMAHA, Neb., Sept. 17, 2018 /PRNewswire/ — Union Pacific today announced its Unified Plan 2020, a new operating plan that implements Precision Scheduled Railroading principles. Unified Plan 2020 will launch Oct. 1 and will be rolled out in phases across the entire Union Pacific rail network.

The plan is an important part of Union Pacific’s objective of operating a safe, reliable and efficient railroad. Resulting benefits are expected to help Union Pacific achieve its 60 percent operating ratio goal by 2020, on the way to achieving a 55 percent operating ratio.

Click the link below for the full story!

Union Pacific Unified Plan 2020

Note on forward-looking information

Meet Montreal and Minneapolis-St. Paul

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