reported a higher-than-expected cash burn in the first quarter on Thursday as the Canadian plane maker builds up inventory to support increased production of business jets amid resilient demand for private flying.
The Montreal-based company is facing pressure from rival General Dynamics’ Gulfstream, which had its flagship G700 luxury jet certified last month by the U.S. Federal Aviation Administration. Bombardier on Thursday reported 20 aircraft deliveries in the first quarter, which it said will put it on track to handover 150 to 155 jets this year.
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