Bombardier lifts forecast for business jet deliveries as demand rebounds

Free cash flow usage for 2021, a metric closely watched by investors, is now expected to be better than $300 million, compared with $500 million. Bombardier is forecasting 120 business jet deliveries in 2021, up from 110.Business jet revenue for the three months ending June 30 jumped 50% to $1.5 billion, compared with the $1.3 billion that analysts were expecting, according to Refinitiv.

But Montreal-based Bombardier posted an adjusted net loss of $137 million, or 6 cents per share, for the second quarter, compared with a loss of $248 million, or 11 cents, a year earlier. Bombardier also disclosed that the Royal Canadian Mounted Police would join a global investigation into suspected bribery related to decade-old sales of company jets to Garuda IndonesiaBombardier, the latest aerospace group to face scrutiny over past deals, has previously said the Department of Justice and Britain's Serious Fraud Office are investigating the acquisition and lease of its CRJ1000 aircraft to the airline between 2011 and 2012.

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