Canadian tech company BlackBerry bought a private jet months before announcing it would lay off 40 per cent of its global workforce and incur a quarterly loss of nearly a billion dollars, but now says it has decided to sell the used Bombardier aircraft.
The company, based in Waterloo, Ont., bought the jet this year to replace two medium-range Dassault aircraft it had purchased several years earlier.
"The company considered several options and selected a used Bombardier aircraft, which was eventually delivered in July," BlackBerry said in an emailed statement.
"In light of the company’s current business condition, the company has decided to sell that aircraft along with the two legacy aircraft and will no longer own any planes."
The company declined to offer any other details.
News of the purchase comes just days after BlackBerry announced it would take a non-cash loss in the second quarter of $930 million to $960 million, mainly due to its large inventory of unsold Z10 devices. The company says it sold only 3.7 million smartphones in the second quarter, and would cut 4,500 jobs globally.
It did not say how many jobs would be cut at its headquarters in Waterloo or when details of the move would be revealed.
BlackBerry could soon be owned by Fairfax Financial, the holding company controlled by Prem Watsa (pictured). Here are some of the more recognizable Canadian brands owned in whole or in part by the very diversified Fairfax.
Prime Restaurants Inc.
Canadian firm Prime Restaurants owns East Side Mario's, Casey's, Fionn MacCool's and a number of other restaurant chains recognizable across North America.
The maker of Mega Bloks has been embroiled in a battle with Lego, which accused the company of ripping off its building-block product. But Lego lost its patent on its building blocks two decades ago, and Mega Brands is likely to keep on building its blocks. Pictured here is a Hello Kitty Mega Bloks set.
Known for its high-end silverware and kitchenware, William Ashley outlets can be found anywhere rich people shop. Pictured here, a William Ashley dining set inspired by the British drama 'Downton Abbey.'
Torstar may best be known as the publisher of The Toronto Star, Canada's largest-circulation newspaper, but the company is also behind the wildly successful Harlequin line of pulp romance.
The Brick furniture chain
The Brick is a staple of suburban Canadian malls. The chain was recently bought out by competitor Leon's.
The Toronto-based Sporting Life retail chain is 75-per-cent owned by Fairfax Financial.