Bombardier meets delivery goals as Global 7500 production takes off

posted on 1st November 2019 by Eddie Saunders
Bombardier meets delivery goals as Global 7500 production takes off

On Thursday Bombardier Inc confidently claimed it would meet a key 2019 target and announced a deal worth more than $1 billion with Spirit Aerosystems, sending shares up nearly 7%.

Bombardier Inc. president and CEO Alain Bellemare, “There are 20 Global 7500s now in completions, with a dozen in the last stages of completion.

“The division is ‘on track’ to reach 175 to 180 aircraft deliveries for the full year, with projected revenue of $8 billion,” Bellemare said.

The company will need to deliver 58 aircraft in the fourth quarter to reach hit the 175 mark before year end.

“We now have over 20 Global 7500s in our completion centre, Our assembly operation in Toronto is also full, with over 20 aircraft at different stages of completion.” says Bellemare

In the third quarter, the company delivered 37 aircraft, including 31 business jets and six CRJ regional jets. It delivered 36 aircraft during the same period of 2018.

Bombardier’s business aircraft order backlog was worth $15.3 billion at the end of the third quarter, up about 7% year-on-year. Its commercial aircraft backlog stood at $2.6 billion by September.

Also on 31 October, Bombardier announced it plans to sell significant aerospace assets to fuselage and component manufacturer Spirit AeroSystems highlighting Bombardiers ongoing shift away from commercial aviation and toward increased focus on business aircraft.

“We achieved another key milestone to building a lean, efficient and strong Bombardier business aircraft enterprise,” Bellemare says.