They immediately established an ambitious, five-year strategic plan to reposition Bombardier, with a focus squarely on its sturdiest leg: the high-flying business jet and ancillary services industry.
Deliveries of business and general aviation aircraft last year topped 4,000 for the first time in more than a decade, the General Aviation Manufacturers Association reported in February.
Historically, the business jet market has been cyclical, said Noah Poponak, an analyst for Goldman Sachs, "but it's been hyper-cyclical in the past 20 years."
Sales of all business jets were healthy leading into 2020 — and then the Covid pandemic hit.
Everyone wanted a business jet and was willing to buy whatever was out there, new or used."
Persons:
headwinds, Bombardier's, Alain Bellemare, divesting, Éric Martel, Bart Demosky, Demosky, Warren Buffett's Berkshire Hathaway, CFOs, Noah Poponak, Goldman Sachs, Walter Spracklin, Spracklin
Organizations:
Bombardier, Boeing, Airbus, General Aviation Manufacturers Association, Challenger, Global, Companies, Honeywell, RBC Capital Markets
Locations:
Montreal, Warren, Covid