Bizjet Sales Boost Bombardier Profits

 - June 7, 2011, 10:20 AM

Last week Bombardier reported $4.7 billion in revenue for its first fiscal quarter (which ended April 30), a 9-percent year-over-year increase, thanks in part to a stronger business jet market, “especially at the high end,” said Bombardier president and CEO Pierre Beaudoin. Profits in the fiscal quarter reached $220 million, compared with $195 million last year. At Bombardier’s aerospace division, revenues were $2.2 billion, up from $2 billion in last year’s first fiscal quarter, while pre-tax profits climbed 6 percent year-over-year, to $141 million. Bombardier Aerospace delivered 61 aircraft–37 business jets, 23 airliners and one amphibious waterbomber–in the quarter, versus 56 last year. It also logged net orders for 86 aircraft in the quarter–77 of which were for business jets–versus 61 for the same period last year. The orders for 77 business jets include 50 Bombardier Globals for NetJets, a sale that was announced March 1. Because of the higher order intake, Bombardier’s aerospace backlog increased quarter-over-quarter by 10 percent to $21.1 billion. The company said that business jet indicators, although mixed, are generally showing a positive trend.