Bombardier retained its place because the world’s largest business jet producer in 2022, rising its gross sales at the same time as worries continued round a doable financial hunch.
The Montreal-based firm churned out 123 non-public planes final yr, beating out for the second yr in a row Gulfstream Aerospace Corp., which produced 120.
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However, the Savannah, Ga.-based rival took in additional income on its gross sales, at US$6.6 billion in contrast with Bombardier’s US$6 billion.
In 2021, Bombardier billed US$5.8 billion on 120 business jets, the overwhelming majority of them Challengers or the ultra-long-range Globals — it ended manufacturing of the storied Learjet final March.
Since promoting off its remaining stake within the Airbus A220 jetliner program in 2020, the 81-year-old firm centered solely on the burgeoning business jet market whereas it continued to pay down a large debt load.
Bombardier had $4.69 billion in web debt on the finish of the yr, greater than 5 occasions its annual adjusted earnings.
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CEO Eric Martel stated earlier this month he expects regular development and stronger revenue on the corporate’s providers in 2023.
National Bank analyst Cameron Doerksen cautioned that “sentiment around the business jet industry and Bombardier shares may be less bullish this year” as non-public airplane use softens amid a return to industrial air journey and a possible financial slowdown.
