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Business aviation is booming and a sure indication of that is Bombardier’s 2023 forecast.
Bombardier, a global leader in business jets, has forecast higher deliveries and greater revenues for this year compared to 2022.
Revenues are expected to be greater than $7.6 billion, driven mainly by increase in deliveries, which are expected to be more than 138 units, the Canada-based company said.
Apart from aircraft deliveries, the company sees continued and steady growth of aftermarket services as an important driver in 2023.
Bombardier sees significant growth in the Middle East too and as part of its expansion in the region, it is building a new service centre at Abu Dhabi International Airport (AUH), UAE. It also took part actively in MEBAA Show in Dubai, showcasing the Global 7500 aircraft.
“We are confidently beginning the new year guiding for growth for a third consecutive year,” said Éric Martel, President and CEO, Bombardier.
Bombardier exceeded its targets on all guided metrics in 2022. The company reported $6.9 billion in revenues, an increase of 14 per cent year-over-year. The increase comes on the back of higher deliveries and a favourable aircraft mix, but also a significant contribution from aftermarket services, which grew 22 per cent year-over-year to reach $1.5 billion in 2022.
The company made the most of the strong demand and avoided pitfalls related to the pressures on the supply chain to deliver 123 aircraft, 49 of which were delivered in the fourth quarter of 2022.
The healthy backlog, which increased $2.6 billion year-over-year to reach $14.8 billion, and a 1.4 full-year unit book-to-bill, reflect continued favourable medium- and long-term industry fundamentals and confirm that Bombardier has the right product mix to continue being the leading force in its categories, it said.
“The 2022 results are a resoundingly positive culmination of a strong year, and a testament to the team’s effort to execute in the fourth quarter. We exceeded commitments across the board, be it on deliveries, our growing aftermarket business and profitability,” said Martel.
“We are also proud of the fantastic job our team did on deleveraging, with $1.1 billion dollars of debt retired in 2022 thanks to cash from our balance sheet and operations. This puts us ahead of our plan and gives us the flexibility to be even more proactive and opportunistic going forward.”
Bombardier designs, manufactures, and services exceptional business jets. Its Challenger and Global aircraft families are renowned for their cutting-edge innovation, cabin design, performance, and reliability.
Bombardier has a worldwide fleet of approximately 5,000 aircraft in service with a wide variety of multinational corporations, charter and fractional ownership providers, governments, and private individuals. Bombardier aircraft are also trusted around the world in government and military special-mission roles leveraging Bombardier Defense’s proven expertise.
Bombardier in December announced the official groundbreaking of its new service centre at Abu Dhabi International Airport (AUH), UAE. The new facility is Bombardier’s first full-service facility in the UAE and builds on its long-term commitment to its customers in this critical market.
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