Bombardier Posts Encouraging Earnings But Slight Slide On Deliveries As Bombardier has transitioned from an all-round commercial, business and rail-mobility company to a simple all-business jet unit their previous woes have been lessening as the chart a new path for success. The company beat their market guidance for the previous year posting a significant lift on earnings that reflected an increase in the region of 220 percent. Revenues were also up by 7 percent. Cost cutting measures seem to be working as well as in the last year they managed to cut interest expenses by 250 million which they want to keep up to reach a 400 million dollar reduction by 2023.
Overall the executive jet airframer delivered 120 jets in 2021. In the final quarter of last year business jets were delivered which is down from 44 delivered in 2020. Learjet deliveries slashed in half as the company has stopped LJ production and only delivered two of the type! This year, there are three Lears to ship to customers and those will be the last LJs as Bombardier finishes with light-jet production to focus on its mid and large cabin offerings. Of the 66 Global model jets delivered last year 39 of them were for the Global 7500 flagship. The company is viewing the flagship as its 'profit-hunter'. Increasing in production will be very modest initially and ramp up in 2023. For more information: Bombardier Aerospace 400 Côte-Vertu Road West Dorval, Quebec H45 1Y9 Canada www.bombardier.com ***
