Bombardier on track to hit business jet delivery targets, meeting expectations

Bombardier on track to hit business jet delivery targets, meeting expectations
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MONTREAL — Bombardier Inc. says it has fulfilled more than 70 per cent of its expected business aircraft deliveries for the year, as a lengthening order backlog points to growing demand for long-range planes.

In the quarter ended Sept. 30, the Montreal-based company delivered 31 business jets, bringing the total to 96 so far in 2018, in line with analyst expectations. Bombardier delivered four Learjets, 20 Challengers and seven Global aircraft in its third-quarter.

The order backlog edged up to $14.3 billion, a 1.4 per cent increase from the second quarter of 2018 and a 3.6 per cent rise over the past nine months.

Analyst Walter Spracklin of RBC Dominion Securities Inc. says confirmation of the jet deliveries was a “positive,” though one that was expected and “incrementally positive” for shares.

It comes shortly after the plane-and-train maker confirmed its delivery schedule for the Global 7500, Bombardier’s longest-range aircraft, which is set to enter service later this year.

The update Tuesday  also arrives one day after the company said flight testing for its Global 5500 and Global 6500 business jet program was 70 per cent complete, keeping it on track for delivery in 2019.

Companies in this story: (TSX:BBD.B)

The Canadian Press

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