Bombardier Had ’Substantial Level of New Orders’ in 1Q
Bombardier released strong first-quarter numbers this week, and all indications are that growth will continue for the rest of the fiscal year. Revenue for the aerospace division increased from $2 billion during the same period last year to $2.3 billion this year. Aircraft orders were up exponentially as well. During the first quarter last year, the company took orders for 52 aircraft, 33 of them business jets. This year, demand burgeoned and the company took orders for 174 aircraft, 83 of them business jets. This big gain has contributed to a backlog worth $15.4 billion, the company’s highest ever. According to company executives, a buyer wanting a new Global will wait 24 months, a buyer for a Challenger will wait 14 months and a buyer for a Learjet will wait 11 months. Accordingly, the company will “increase business jet production this year,” though executives declined to specify which aircraft would be ramped up.