It comes after Bombardier announced plans to cut over 1,000 people over the next two years.
Mr Lyttle said his foremost concern was for the workers affected by the news.
“This is a brutal blow and my thoughts are foremost with the workers and families affected by this news. It is important to say the skills and productivity of Bombardier Northern Ireland workers are first-class and this decision appears to be based primarily on global factors.
“My Alliance colleague and Employment Minister Stephen Farry MLA has met with Bombardier and will be offering the full support of his Department and the Executive to the company and workers on redundancy advice and guidance for training and employment opportunities.
“I will also seek assurances from the Executive that it will do all that it can to assist workers affected by this news and to support the long-term competitiveness of Bombardier in Northern Ireland.
“Bombardier has a strong heritage in East Belfast and retains a key role in the delivery of the C-Series, a programme that is set to enter into service later this year. I hope this progress will give confidence to the market for further orders for the company and ensure that Bombardier remains a key driver for our local economy.”