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☆ How Bombardier is cashing in on business elite's love affair with private jet travel
▼ + stars: | 2024-04-12 | by ( Bob Woods | ) www.cnbc.com time to read: +5 min

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

☆ Bombardier quarterly profit beats estimates on demand for business jets
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Christinne Muschi/File PhotoMONTREAL, Aug 3 (Reuters) - Canada's Bombardier Inc (BBDb.TO) on Thursday reported better-than-expected quarterly profit and higher revenue despite supply chain pressures, helped by demand for flying and maintaining private planes. The Montreal-headquartered business jet maker reported a second-quarter profit of $10 million from continuing operations, compared with a loss of $109 million a year earlier. CEO Eric Martel told analysts that despite "pressure points" such as smaller suppliers, the supply chain is improving and will "remain a key area of focus for the foreseeable quarters". Last month, Gulfstream jet maker Textron Inc (TXT.N) raised its full-year profit forecast on strong jet pricing. On a per share basis, quarterly adjusted profit was 72 cents, compared with a loss of 48 cents a year earlier.

Persons: Christinne, Eric Martel, Refinitiv, Allison Lampert, Abhijith, Saumyadeb Chakrabarty, Jan Harvey Organizations: Bombardier Global, REUTERS, MONTREAL, Bombardier Inc, Gulfstream, Textron Inc, Bombardier, Thomson Locations: Montreal, Quebec, Canada, Bengaluru

Higher costs and a shortage of available new parts are also delaying aircraft repairs, which risk pushing up air fares. Some makers of brand-name parts like General Electric Co (GE.N) stand to benefit because they also sell used parts, known as used serviceable material. Honeywell Aerospace Trading (HON.O), the U.S. conglomerate's used parts business, is among companies enjoying higher demand since 2021. Ultimately, the alternatives to new parts may bring relief but a congested supply chain must be fixed, said Benjamin Hockenberg, president of JSSI Parts & Leasing. "Certain models, certain situations, (used parts) will fill the void, but I think we also need to see a repaired supply chain," said Hockenberg.

REUTERS/Dado Ruvic/Illustration/File PhotoMONTREAL, March 23 (Reuters) - Business jet maker Bombardier Inc (BBDb.TO) on Thursday raised 2025 revenue and free cash flow targets at its investor day, and said it would produce more corporate planes, sending shares up 4.9% in morning trade. Corporate jet makers have reported swelling order backlogs on persistent strong demand for private flying in the U.S. He said Bombardier expects to produce about 150 business jets by 2025, and is targeting more than $9 billion in annual revenue, up from an earlier goal of $7.5 billion. With no announced 2025 capex target and the entry into service of its flagship Global 7500 in 2018, investors and analysts are expected to raise questions over plans for a new jet. Desjardins analyst Benoit Poirier said Bombardier's free cash, revenue and deliveries targets were stronger than expected and deemed the lack of a capex commitment less risky.

☆ Bombardier lifts 2025 financial targets amid strong business jet market
▼ + stars: | 2023-03-23 | by ( Allison Lampert | ) www.reuters.com time to read: +1 min

MONTREAL, March 23 (Reuters) - Canadian business jet maker Bombardier Inc (BBDb.TO) on Thursday raised its 2025 revenue and free cash flow targets at its investor day, capitalizing on strong demand for private flights. Montreal-based Bombardier said in a statement it is now targeting more than $9 billion in annual revenue by 2025, up from an earlier objective for that year of about $7.5 billion. Corporate jet makers have reported swelling order backlogs on persistent strong demand for private flying, especially in the United States, the world's largest market for business aviation. But while demand continues to be strong, supply chain snags and fears of a recession remain headwinds. Chief Executive Eric Martel said previously the company's defense business for special mission business jets could grow to a possible $1 billion in annual revenues.

☆ Bombardier jet deliveries to rise in 2023 on private flying boost
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +2 min

[1/2] An attendee exits the Bombardier Global 6500 business jet at the National Business Aviation Association (NBAA) exhibition in Las Vegas, Nevada, U.S. October 21, 2019. REUTERS/David Becker/File PhotoFeb 9 (Reuters) - Canada's Bombardier Inc (BBDb.TO) on Thursday forecast higher business jet deliveries for 2023, after strong demand for private flying drove its quarterly results above expectations despite persistent supply-chain snags. Cessna jet maker Textron Inc (TXT.N) had also offered a strong 2023 forecast last month. It forecast 2023 revenue of more than $7.6 billion, compared with estimates of $7.69 billion, according to Refinitiv data. Free cash flow is expected to be over $250 million, compared with last year's $735 million.

☆ Train maker Alstom's sales gain steam as orders beat estimates
▼ + stars: | 2023-01-25 | by ( Olivier Sorgho | ) www.reuters.com time to read: +1 min

[1/2] A logo of Alstom is seen at the Alstom's plant in Semeac near Tarbes, France, February 15, 2019. REUTERS/Regis Duvignau/File PhotoJan 25 (Reuters) - French train maker Alstom (ALSO.PA) posted an 8% rise in third-quarter sales on Wednesday, helped by forecast-beating orders, particularly in Europe. Revenue in the October-December period, Alstom's fiscal third quarter, amounted to 4.22 billion euros ($4.60 billion), compared with 3.92 billion euros in the same period a year earlier. Quarterly orders, of which most came from Europe, increased by 13% to 5.15 billion euros, and were 11% ahead of a consensus cited by J.P.Morgan. Alstom's orders "highlight high level of activity in rail industry which is already visible in large order announcements of companies", J.P.Morgan analyst Akash Gupta said in a note to clients.

☆ Bombardier CEO voices concerns over awarding Canada's defense contract to Boeing
▼ + stars: | 2022-12-21 | by ( ) www.reuters.com time to read: +1 min

Dec 21 (Reuters) - Bombardier Inc (BBDb.TO) Chief Executive Eric Martel voiced concerns over Canada's potential plan to buy reconnaissance jets directly from Boeing Co (BA.N) instead of tapping its home-grown aerospace industry through a bidding process. "As President and CEO of Bombardier, I want to publicly share my concern that Canada, which is facing an important choice about the airborne surveillance of its vast borders, may be considering awarding a sole-source contract directly to Boeing." Martel's comments come after a recent media report that Canada was considering a multi-billion dollar purchase of up to a dozen P-8 Poseidon aircraft from Boeing. Martel pushed for Bombardier's jets, saying the Canadian planemaker's Global 6500 aircraft "will be the right-sized solution and will respond to Canada's needs". Reporting by Aishwarya Nair in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

☆ Netjets will be the first customer for Bombardier's new $78 million private jet, the world's fastest passenger plane since the Concorde — meet the Global 8000
▼ + stars: | 2022-12-04 | by ( Taylor Rains | ) www.businessinsider.com time to read: 1 min

Although many private charter companies may not adopt the configuration, it may prove to be a good option for corporations buying private jets for company travel. The Nuage Cube is a multi-purpose piece of furniture that can be used as a footrest, stool, or small table, and has been introduced as part of the executive cabin.

☆ Bombardier's loss narrows on strong demand for business jets
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +1 min

Nov 3 (Reuters) - Bombardier Inc (BBDb.TO) on Thursday reported a smaller adjusted loss in the third quarter, as robust demand for private jet travel boosted the aircraft maker's margins. The Montreal-based company said its third-quarter adjusted loss narrowed to $2 million from $95 million a year earlier. Corporate jet makers have been reporting swelling order backlogs on persistent strong demand for flying private, especially in the United States, the world's largest market for business aviation. The company reported third-quarter free cash flow of $52 million, compared with $100 million last year. Bombardier reported an adjusted loss of $0.10 per share.

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