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Bombardier lifts forecast for business jet deliveries as demand rebounds

Mount Equity Group Tokyo, Japan > News > Business > Bombardier lifts forecast for business jet deliveries as demand rebounds

Aug 5 (Reuters) – Bombardier Inc (BBDb.TO) raised its full-year estimates for revenue and aircraft deliveries on Thursday, helped by higher business jet traffic and demand for planes after the pandemic sapped orders last year.

The planemaker also said it would use less free cash in 2021 than previously expected, after beating analysts’ estimates for quarterly revenues on higher deliveries and demand for aftermarket services.

According to FlightAware data, business jet flights were up 23% in the week-beginning July 21 over 2019 levels in the United States, the world’s largest market for corporate aviation. read more

Rivals Textron (TXT.N) and General Dynamics Corp’s Gulfstream Aerospace are raising production to meet higher demand. read more

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…

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