Bombardier Sees Third-quarter Revenue Drop

AINalerts » December 2, 2010
December 2, 2010, 10:41 AM

Bombardier Aerospace third-quarter financial results, released today, show total aerospace revenues of $1.8 billion, down from $2.1 billion for the quarter ending October 31, 2009. The total backlog as of October 31 was valued at $16.2 billion. The Canadian OEM delivered 33 business aircraft in the third quarter. As of October 31, there was a seven-month backlog for Learjets, an eight-month backlog for Challengers and a 24-month backlog for the Global line. According to the company, “business and commercial aircraft markets are still experiencing challenging conditions.” Nevertheless, said Bombardier president and CEO Pierre Beaudoin, orders were strong for the quarter, valued at $3.7 billion, “And we are anticipating a good [fourth] quarter.” Beaudoin said Bombardier is sticking by its estimate of $1 billion for development of the new Global 7000 and Global 8000. He said that  Learjet production is now at, and will be sustained at, “the proper level for demand” though more employee furloughs will be coming in the next year.

Share this...

Please Register

In order to leave comments you will now need to be a registered user. This change in policy is to protect our site from an increased number of spam comments. Additionally, in the near future you will be able to better manage your AIN subscriptions via this registration system. If you already have an account, click here to log in. Otherwise, click here to register.