Sustained Growth for Bombardier in 2017
The sustainability of the aircraft manufacturing sector received a boost on 16 February with Bombardier confirming that it continued to show solid performance throughout the 4th quarter of 2016. The company is currently executing its five-year turnaround plan. More specifically, Bombardier’s Commercial Aircraft, Business Aircraft and Transportation units exceeded 2016 guidance and full-year margin targets in consolidated earnings and cash performance. Additionally, all new aircraft program milestones were met with the CS100 and CS300 entering service and the Global 7000 beginning flight testing. These positive results have left Bombardier with 2017 guidance affirmed and on track to achieve all 2018 and 2020 targets.
“Our turnaround plan is in full motion,” said Alain Bellemare, President and Chief Executive Officer, Bombardier Inc. “In 2016, Bombardier delivered on its financial commitments. We met our program milestones and we’ve positioned the Company to achieve all of the financial goals in our five-year turnaround plan, including being cash flow break-even in 2018.”
Further highlighting the Company’s progress in the fourth quarter was the successful entry-into-service of the CS300 aircraft with airBaltic, and the strong performance the CS100 aircraft has delivered with SWISS since starting commercial operations over six months ago. Bombardier’s all-new, class-defining, ultra-long range business jet, the Global 7000 aircraft, also began flight testing in the fourth quarter and remains on schedule to enter service in the second half of 2018.
“As we begin 2017, we are confident in our strategy, our turnaround plan and in our ability to unleash the full value of the Bombardier portfolio,” continued Mr. Bellemare. “We remain focused on improving operational efficiency, flawlessly ramping up our new programs and maintaining a disciplined and proactive approach to deliver value to customers and shareholders in any market environment.”
About the Contributor
This article was sponsored and prepared by Bombardier. Bombardier designs, manufactures and supports innovative aviation products and services and provides solutions and training for the business, commercial and other specialized aircraft markets.