Bombardier’s 1Q Revenues Down, Backlog up
Bombardier’s first-quarter financial results, released this morning, show a decline of company-wide revenue from $4.7 billion to $3.5 billion year over year for the Canadian manufacturer, while revenues for its aerospace division decreased from $2.2 billion to $1.5 billion. “As anticipated, we had lower revenues in the first quarter,” said president and CEO Pierre Beaudoin. “The entry into service of the Vision flight deck on the Global 5000 and Global 6000 and the resulting transition, as well as lower deliveries of commercial aircraft, had an impact.”
The company did note that by the end of the first quarter the aerospace division’s order backlog had increased to $23.3 billion from $22 billion at the end of last year. “We had a solid level of new orders in business jets and we’re starting to see momentum in commercial aircraft orders,” Beaudoin said.
During the first quarter, the OEM saw net orders for 40 business jets, including a firm order for five Global 6000s from Australia’s AvWest worth $293 million. On the commercial side, the airframer tallied orders during the first quarter for 28 C Series 100s, CRJ1000 NextGens and Q400 NextGens.