During the middle of the 2000s, Bombardier's commercial aircraft division had incurred persistent operational losses, which motivated management to initiate restructuring and cost-cutting efforts.[1] As such, during 2004, repeated cuts to the production rate of the CRJ100/200 series were announced in conjunction with declining market forecasts, which had the effect of narrowing the division's losses.[33][34][35] The company soon adopted a new market strategy, prioritising the newer and larger CRJ700 and its direct derivatives over other products, such as its turboprop range and the older CRJ100 and CRJ200 models that had spawned them.[36][37] During early 2006, Bombardier terminated its activity on the CRJ program and the production line was closed down; according to Pierre Beaudoin, president and chief operating officer at Bombardier Aerospace, the decision was difficult but necessary for profitability.[38]