Bombardier ramps up plane sales, forecasts growth despite falling business jet use

Bombardier Inc. boosted sales on the back of soaring plane deliveries last quarter, allowing it to forecast even higher earnings for the coming year after a surge in profits over the past 12 months. On Thursday, the business jet maker reported net income of US$445m in 2023, compared with a net loss of US$148m the year before. The company churned out 138 of its Global and Challenger planes last year, more than 40% of them in Q4 alone. The total marks its biggest tally since before Bombardier streamlined its business to become a pure-play private jet manufacturer. “Our Global aircraft broke many speed records in 2023, but those were not the only records we set last year. Our team came together to deliver the highest revenues and earnings, record aftermarket revenue and the highest deliveries since we refocused our business in 2021,” said CE Eric Martel. “Today, we are marching ahead with confidence. Our 2024 guidance reflects the path of continuous growth we have been on for the past three years.” For the coming year, Bombardier forecast between 150 and 155 deliveries. It also predicted full-year revenues of between US$8.4b and US$8.6b. That target sits well above last year’s US$8b revenue, which in turn marked an increase of 16% from 2022.<br/>