The nation’s third-largest fractional jet program will continue to pursue a “stealth wealth” clientele while offering them customized solutions to their private aircraft travel needs beyond traditional fractional sales, and that may mean bringing more capital into the company, according to Flexjex president Deanna White.
Bombardier Aerospace’s third-quarter revenues rose to $2.3 billion, up from $1.8 billion a year ago, thanks to more business jet deliveries and higher net selling prices, the Canadian aircraft manufacturer said today in its quarterly financial report. Bombardier delivered 43 business jets in the quarter, compared with 31 in the same period last year. The Challenger 605 led the gains in deliveries, with 10 of the large cabin twinjets handed ov
Bombardier Aerospace announced yesterday that Global 7000 and 8000 aft fuselages will be built at its site in Queretaro, Mexico. The Mexican site already produces the aft fuselage of the Global 5000 and 6000, as well as the Learjet 85 aircraft’s major composite structures. Final assembly of Global 7000s and 8000s will take place at Bombardier’s Toronto, Ontario plant.
The demands of four new jet aircraft development programs, coupled with anemic sales of its Learjet business jet brand and regional jets, fueled a cash burn pyre that persuaded analysts to issue a fresh round of stock downgrades for Bombardier in September. In the last quarter, the OEM drew down $1 billion of cash reserves against $211 of net income, double for the same period a year ago. Its market capitalization is $7 billion and the cash burn rate set off caution lights for stock analysts. The news is not cataclysmic; most now rate the company as “market perform,” but from early July through the end of September, Bombardier stock lost 43 percent of its value.
Flexjet, Bombardier’s Texas-based fractional ownership program, launched a Learjet 85 program yesterday. In an interview with AIN today, Flexjet president Fred Reid said the company will take seven aircraft initially, and eventually “a couple of dozen,” with deliveries beginning in the fourth quarter of 2013. He noted that Flexjet’s Learjet 85 prices will be 5 percent below those of the Cessna Sovereign in fractional service.
The Rockwell Collins Pro Line Fusion avionics system is “good to go,” reported chairman, president and CEO Clay Jones during an April 21 earnings call. The FAA issued the final in a series of 50 hardware and software technical standard orders (TSO) for the Pro Line Fusion in April, and Rockwell Collins is now working on a supplemental type certificate (STC) for installation in its Challenger 601 test airplane.
Rizon Jet has opened its long-planned FBOs at London’s Biggin Hill Airport and Doha International Airport. Both the UK and Qatar facilities will provide full handling support and plan to extend their maintenance portfolios.
VistaJet put itself back in full-blown growth mode yesterday, placing a major order with Bombardier for 18 jets in a move that will take its fleet to more than 50 aircraft. The $383 million deal signed here at EBACE includes 12 Globals and Challengers and six Learjet 60 XRs. Deliveries should begin next year.
Swiss operator VistaJet today at EBACE announced a firm order for 18 Bombardier business jets, which will bring its fleet to more than 50 aircraft. The order, valued at $383 million, includes 12 Globals and Challengers and six Learjet 60 XRs. Deliveries should begin next year. Thomas Flohr, founder, owner and chairman of VistaJet, said his company’s current order backlog is valued at $1.3 billion.
The National Aeronautic Association confirmed that a Bombardier Learjet 60XR set a speed record between Wichita and São Paulo. The midsize jet flew the 4,777-nm trip in 11:58 hours, which included time for a fuel stop in Cali, Colombia, on August 8. Piloting the Learjet on the record flight were Bombardier demonstration pilots Chris Walker and Kerry Swanson.