Bombardier raises full-year revenue, business jet deliveries

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Bombardier raises full-year revenue, business jet deliveries

Bombardier Inc raised its full-year forecasts for both revenue and business jet deliveries on Thursday, as it supports a rebound in demand for private jets after the pandemic sapped sales last year.

It expects to deliver 120 business jets in 2021, compared with its prior forecast of between 110 and 120 units. Bombardier anticipates full-year revenue to be more than $5.8 billion, up from its previous estimate of more than $5.6 billion.

Aircraft deliveries rose 45% to 29 units in the second quarter, reflecting strong demand for large-category jets.

Business jet revenue jumped 50% to $1.5 billion, fuelled by increases in both aircraft deliveries and services, Bombardier said.

The company has said it expects improved revenues for sales of business aircraft in the United States, the world's largest market for corporate jets.

Rivals Texas Corp. and General Dynamics Corp’s Gulfstream Aerospace said they were raising production to meet the rebound in demand.

Bombardier posted an adjusted net loss of $137 million, or 6 cents per share, in the quarter ended June 30, compared to a loss of $248 million, or 11 cents, one year earlier.