Bombardier Profits Soar, Aerospace Shows Some Gain

 - October 1, 2011, 11:15 PM

While Bombardier recorded a healthy overall jump in net income in this year’s second quarter–from $138 million in 2010 to $211 million this year–news from the aerospace side of the house was somewhat less cheerful, but still positive.

Bombardier Aerospace president and COO Guy Hachey noted “more anxiety in the industry on the part of financial institutions,” which delayed a few transactions. But, he added, “We did not see a bunch of cancellations.”

Then came particularly good news, starting with net orders for 43 aircraft in the second quarter 2011 ending July 31, an encouraging increase compared with 14 for the same period last year. And in the second quarter 2011 there were 35 business jet deliveries, a healthy increase over the 27 deliveries in last year’s second quarter.

Hachey said orders for the large-cabin Global line remain strong. The total numbers show a 36-month backlog for Globals, 15 months for Challengers and six months for light to midsize Learjets. Bombardier maintains that the company remains on track to deliver 150 business jets this year.