MONTREAL — Under the wing of a new logo, Bombardier Inc. said it lengthened its order book last quarter even as global demand for business jets idles.
The decrease resulted partly from lower than expected plane deliveries in the quarter — 20 versus 22 a year earlier — but CEO Éric Martel said the number aligned with Bombardier's production plan of 150 to 155 jets this year. Last year, roughly 40 per cent of its new jets landed with clients in the final quarter.
"While we continue to require more working capital investment in the near term, we will be well placed in the second half of the year and well beyond," Martel told analysts on a conference call Thursday.Martel's remarks came one day after the 82-year-old company unveiled a new logo to mark its shift from an erstwhile giant of rail and commercial aviation to a pure-play business jet outfit.
Last year, the company flew its forthcoming Global 8000 ultra-long-range jet at Mach 1 — the speed of sound, or about 1,235 km/h — a first in business aviation, it said. "Older airplanes are available on the market, but if you're looking for an airplane that has five, six, even less than 10 years, it's more difficult to find one," Martel said."So people are coming towards new airplanes."