Bombardier Buoyed by Business Jets
An increase in business jet sales and deliveries continued to bolster the aerospace arm of Bombardier, according to the Canadian manufacturer’s financial results for its first quarter that ended April 30. In the February to April period, Bombardier delivered 53 business jets, compared with 43 in the same period last year, a 23-percent increase. But overall sales of the aerospace unit were flat and profit margin little changed, due to a 37-percent decrease in deliveries of regional aircraft–24 regional jets and turboprops, compared with 38 in the same period a year ago. In the period, Bombardier received orders for 33 business jets, versus 39 last year. The company reported completing orders for 19 regional aircraft, compared with 43 for the same period a year ago. As of April 30, the firm order backlog of the aerospace unit was $10.6 billion, compared with $10.7 billion as of January 31.