Bombardier aims to deliver up to 155 business aircraft in 2019
Canadian aircraft maker's jets sold out until 2021
Bombardier says it expects to deliver 150 to 155 business aircraft in 2019, as the Canadian plane maker’s Global 7500 jets go into service later in 2018.
The Global 7500 aircraft, which lists for $73meach and are sold out until 2021, is expected to boost the company’s sales in 2019 and play a key role in Bombardier’s five-year turnaround plan to boost revenue and margins by 2020.
Bombardier also sees a 10% rise in 2019 revenue to about $18bn, as Global 7500 business jet deliveries accelerate.
The company also expects to deliver two new longer-range variants of its large-cabin business jets, the Global 6500 and 5500, at the end of 2018,at a time when demand for corporate planes is recovering. It forecast deliveries of 35 commercial aircraft in 2019.
The company said in October it had delivered 96 business jets in 2018, meeting more than 70%of its forecast for the year. The Montreal-based company, which signed a deal to sell its Q400 turboprop programme in November,is weighing options for its money-losing regional jet programme as the company expands its stronger-performing corporate jet and rail divisions.
Shares have fallen about 28%year-to-date on investor jitters over Bombardier's $9bndebt and concerns over a disappointing free cash flow forecast.
Bombardier said on Thursday it expects to generate free cash flow of $250m to $500m in 2019, excluding one-time items.