Bizjets Still Buoying Bombardier Aerospace
Bombardier Aerospace today reported revenues of $8.6 billion last year, down from $8.8 billion in 2010, while pre-tax profits slid by $52 million year-over-year, to $502 million.
However, the Canadian aircraft manufacturer’s backlog–which includes orders for business jets, airliners and waterbombers–rose by nearly $3 billion last year to $22 billion as of December 31. By business jet segment, backlog for Learjets is now at only two months of current production rates, below the target of six to nine months; Challenger backlog is 12 months, also below this segment’s target range of 15 to 18 months; and Global backlog is 34 months, above the target of 24 to 30 months.
Bombardier recorded net orders for 249 aircraft last year, for a book-to-bill ratio of 1.0, compared with 201 net orders and a ratio of 0.8 in the previous year. Overall, the company delivered 245 aircraft last year, 11 fewer than in 2010. However, business aircraft deliveries climbed to 163 last year, eight more than in 2010.
By revenue, Bombardier said it has a 37-percent share of the business jet market. This year, the manufacturer expects to deliver about 180 business jets–including NetJets’ first completed Global (a Model 6000) in the fourth quarter–and 55 airliners.