Bombardier: Bizjet Market Recovering

 - September 30, 2010, 5:41 AM

Bombardier Aerospace “is starting to see signs of recovery as shown by the significant reduction in business aircraft order cancellations,” Bombardier president and CEO Pierre Beaudoin said early last month. During the second quarter ending July 31, Bombardier took gross orders for 26 business jets but had 12 cancellations, resulting in net orders for 14 business aircraft. While this is much better than the 27 orders and 80 cancellations (-53 net) a year ago, “We’re seeing only a slow progressive trend for order intake,” said Bombardier Aerospace president Guy Hachey. “We expected the market recovery to be better by this point, though the business pipeline for business jets is good.” Demand is strongest for the company’s large-cabin Globals and weakest for its Learjet line.