Bombardier starts year with $110m profit and new branding

Bombardier turned a $110m profit in Q1 2022 despite a dip in aircraft deliveries, and has rolled out a new logo it says reflects the company’s shift into solely a business jet manufacturer. “This solid start reinforced out confidence in our ability to reach our guidance for the year,” Bombardier CE Eric Martel said on 25 April. “Our new brand identity reinforces our successful shift toward business aviation.”<br/>He adds that Bombardier’s financial results and aircraft delivery volume during the quarter were “exactly and precisely to plan”. The company delivered 20 aircraft during Q1, two fewer than it handed over in the same period of 2023 As a result, Bombardier generated $1.3b in Q1 revenue, down 12% year on year. Bombardier ended March with a backlog of aircraft orders valued at $14.9b, up 5% in one year. The company cites ongoing strong demand for its business jets – which include the Challenger and Global lines – saying it sold 60% more jets in Q1 2024 than in Q1 of last year. “Bombardier’s production plan remains on track to meet full-year 2024 delivery guidance,” the company adds.<br/>