Bombardier Marks Dual Celebration – NetJets Accepts First Global 7500 Business Jet as Bombardier Delivers 1,000th Global Aircraft

  • Delivery of industry’s longest-range business jet marks the first of 20 Global 7500 aircraft to join the NetJets fleet
  • Global 7500 aircraft continues to garner significant interest from customers who value features such as the largest and most unique cabin, innovative technology, unparalleled performance and the smoothest ride

MONTRÉAL, Dec. 02, 2021 (GLOBE NEWSWIRE) — Bombardier announced today the delivery of the 1,000th Global aircraft. The major milestone was reached as the NetJets team led by Patrick Gallagher, President, Sales, Marketing and Services, took delivery of the private aviation company’s first Global 7500 business jet.

The addition of a Global 7500 aircraft to the NetJets fleet redefines its large-cabin, long-range offering, and elevates the choice of travel options for its international Owners. With a 7,700 nm (14,260 km) range, NetJets Owners will be able to fly from New York to Beijing or San Francisco to Sydney without refueling stops. The Global 7500 aircraft is set to be the flagship aircraft in one of the finest fleets in business aviation. The largest and quietest aircraft in the NetJets fleet, this is the first of a firm order of 20 Global 7500 aircraft, sure to transform the way Owners experience global travel. 

“We take pride in operating one of the industry’s most advanced fleets, and we are delighted to accept our first Global 7500 aircraft today. The Global 7500 aircraft adds a new dimension to our long-range aircraft offerings,” said Patrick Gallagher, President, Sales, Marketing and Services, NetJets. “At a time when demand for our aircraft is at its highest, our strategy is focused on continuing to deliver solutions that meet our Owners’ needs and expectations. We anticipate our Owners will appreciate the added value the aircraft brings and know they will be thrilled to experience flight in the Global 7500 business jet.”

“The incomparable Global 7500 business jet will now delight NetJets Owners not only with its industry-leading range, but also by its unique Nuage seat, Soleil lighting system and four true living spaces. We are proud that our 1,000th Global aircraft delivery represents the first Global 7500 aircraft to join the NetJets fleet,” said Éric Martel, CEO and President, Bombardier. “This double celebration sees our flagship aircraft become NetJets’ flagship business jet, and it’s a signature moment for all of us, as we cap off a remarkable year in aviation. I want to thank the many talented team members, past and present, who have supported the Global program during the last two decades, and our dedicated customers who have enjoyed the Global experience.”

Both NetJets and Bombardier are committed to supporting a sustainable future. The Global 7500 aircraft boasts the first Environmental Product Declaration (EPD) for a business jet. The independently verified EPD details information about the aircraft’s environmental footprint throughout its lifecycle, and thus plays an important role in the pledge both companies have made to support the private aviation industry’s commitment to environmental sustainability.

The 1,000th Global delivery reflects the continued popularity, longevity and reliability of the Global family of aircraft as it remains a consistent leader in its class. In addition to setting the bar for all business jets, the unparalleled Global 7500 aircraft is also a key economic driver. On the occasion of this dual announcement, PricewaterhouseCoopers led a study of the economic footprint of the Global 7500 aircraft in Québec, Ontario and Canada. Results show that between 2010 and 2019, the Global 7500 program development contributed and facilitated a total economic footprint in Canada of $4.8 billion in GDP as well as an annual average of 3,386 full-time equivalent jobs. In addition, through its overall manufacturing activities, Bombardier is expected to contribute and facilitate $2.0 billion in GDP per year to the Canadian economy and 8,456 jobs per year on average(1).

Through Bombardier’s R&D investment in the Global 7500 program, knowledge, innovation and expertise is being developed, contributing to the overall strength of the Canadian aerospace ecosystem.

(1)   Total economic impact includes direct, indirect and induced impacts.

About NetJets
Originally incorporated in 1964 as Executive Jet Airways, NetJets Inc. has been setting—and exceeding—industry standards for more than 55 years. Today, NetJets Inc. is proud to be a Berkshire Hathaway company known for its unwavering commitment to safety and service. It encompasses NetJets, Executive Jet Management, QS Partners, and QS Security and offers a variety of travel solutions customized to fit each Owner’s needs. This includes fractional aircraft ownership, lease and jet card options, aircraft management, private jet chartering, brokerage and acquisition services, and specialized security services. This is why so many of the world’s most discerning travelers choose NetJets Inc. generation after generation. It is also because NetJets has the largest, most diverse private jet fleet in the world, which grants anytime access to even the most remote destinations across the globe. To learn more about the leader in private aviation, visit netjets.com today.

About Bombardier
Bombardier is a global leader in aviation, creating innovative and game-changing planes. Our products and services provide world-class experiences that set new standards in passenger comfort, energy efficiency, reliability and safety.

Headquartered in Montréal, Canada, Bombardier is present in more than 12 countries including its production/engineering sites and its customer support network. The Corporation supports a worldwide fleet of over 4,900 aircraft in service with a wide variety of multinational corporations, charter and fractional ownership providers, governments and private individuals.

News and information is available at bombardier.com or follow us on Twitter @Bombardier.
Visit the Bombardier Business Aircraft website for more information on our industry-leading products and services.

Bombardier, Global, Global 7500, Nuage and Soleil are registered or unregistered trademarks of Bombardier Inc. or its subsidiaries.

Bombardier under pressure to ramp up spending on new jets as rivals revamp their fleets

From The Globe and Mail – link to source story

Nicolas Van Praet | Published October 10, 2021

Bombardier president and CEO Eric Martel introduces the new Challenger 3500 in Montreal on Sept. 14, 2021. Pressure is starting to build on Bombardier Inc. to ramp up development spending on new jets as rivals continue to unveil plans for competing aircraft. Paul Chiasson/The Canadian Press

Pressure is starting to build on Bombardier Inc. BBD-A-T to ramp up development spending on new jets as rivals continue to unveil plans for competing aircraft, a situation that raises questions about the Canadian company’s financial targets as it fights to recapture investor interest.

U.S.-based Gulfstream announced last week it would bring two new jets to market – including one, the G400, that aviation analyst Richard Aboulafia said would deliver an instant “knockout punch” against Bombardier’s Challenger 650. That follows disclosure by France’s Dassault Aviation SA DUAVF that it is planning two new large-cabin jets. Competition is only poised to heat up over time with more new products from other manufacturers, including Brazil’s Embraer SA ERJ-N and U.S. giant Textron Aviation TXT-N , according to Scotiabank equity analyst Konark Gupta.

Bombardier shares have fallen in four of the last five trading sessions since the Gulfstream announcement, losing eight per cent overall. They closed Friday at $2.03 on the Toronto Stock Exchange.

“We believe [Bombardier] is now more likely to roll out new models, derivatives or refreshes rather than staying quiet, in order to remain competitive with Gulfstream, Dassault and potentially others,” Mr. Gupta said in a recent research note. The Montreal-based jet maker “could be at risk of losing market share and facing revenue or margin headwinds if it doesn’t invest in new products,” he said.

That means Bombardier’s stated plans to limit capital expenditure at about US$200-million a year over the next several years might not be workable, which in turn would affect its goals for free cash flow, according to the analyst. The company is forecasting that it will turn cash flow positive next year on its way to generating more than US$500-million of free cash by 2025, a target that hinges on limiting spending.

Bombardier chief executive Éric Martel and chief financial officer Bart Demosky are trying to stage a recovery for the Canadian industrial giant that hinges on a slimmed-down business model focused solely on selling and servicing private jets. The company has a lineup of popular planes, such as the all-new Global 7500, that are generating orders, but its still-weak financial position means it does not have the same capacity as some competitors to update older models or develop all-new designs.

“The challenge Bombardier has is they don’t have access to capital at affordable rates,” said aerospace consultant Rolland Vincent, a former Bombardier executive. “But they have a few years. I don’t think they have to do anything right now.”

Bombardier spokeswoman Anna Cristofaro declined to comment when asked whether management sees the capital expenditure forecast as a hard ceiling or if it could be increased as needed. “We’re very proud of our current aircraft offerings, and we’ll continue to bring new and innovative products to the market,” she said via e-mail, adding executives will be able to provide more colour when the company reports third-quarter results later this month.

Over the past three years, Montreal-based Bombardier has announced plans to refresh four separate jet models. The large-cabin Global 5500 and 6500 aircraft were updated to bring them closer in quality and performance to the company’s flagship Global 7500, a US$75-million plane designed from scratch that entered service in late 2018.

A stripped-down version of the Learjet 75 was announced in 2019, although Bombardier has since decided to cease production ofits entire Learjet line. Last month, the company said it would bring to market an improved version of its Challenger 350 aircraft, to be called the Challenger 3500.

Bombardier spent more than US$1-billion to develop the Global 7500, but much less on the other planes, which are not clean-sheet designs but revamped versions of existing aircraft. The company’s methods for refreshing jets (for example, transposing its patented “Nuage” seat technology, first introduced on the 7500, into the other Globals and into the Challenger 3500) has given it a “proven track record to build on for achieving meaningful upgrades at a low cost with less development risk,” Mr. Demosky told industryanalysts last March.

Analysts say the Bombardier jet in most urgent need of a replacement is the Challenger 650, a popular but old jet with a basic airframe design that has not changed since before Bombardier took over the Challenger program with its purchase of Canadair Ltd. from the federal government in 1986. They say that need is even more obvious now that Gulfstream has announced the new G400, which will come to market in 2025.

“The G400 is a major challenge that will require them to think about raising the money” to develop a new competing plane, Mr. Aboulafia said in an interview. “It has to be an all-new plane. You don’t do refreshes of 40-year-old models. … They’re going to lose their market position unless they can do something.”

Bombardier’s Flagship Global 7500 and Best-selling Challenger 350 Business Jets on Display in Europe

  • Guests have the chance to step aboard Bombardier’s two most renowned aircraft, which offer an unparalleled combination of cabin experience and performance
  • Showcase includes stops in Germany, Spain and Sweden
  • As part of Bombardier’s long-standing commitment to sustainability, jets are touring using Sustainable Aviation Fuel (SAF)

MONTRÉAL, Sept. 28, 2021 (GLOBE NEWSWIRE) — Bombardier is pleased to announce that two of its leading business jets, the industry flagship Global 7500 aircraft and the super mid-size market leader Challenger 350 aircraft, are on a tour of several European countries.

The showcase has begun in Germany and will include stops in the Netherlands, Belgium, Spain and Denmark before wrapping up in Sweden on October 5.

“As interest in business aviation grows in Europe and all over the world, it’s important for customers to see first-hand how the cabins and attention to detail aboard Bombardier jets set themselves apart,” said Emmanuel Bornand, Regional Vice President of Sales, Europe, Middle East and Africa, Bombardier. “We’re so pleased to create this distinctive experience for our guests.”

The Global 7500 aircraft created a new space at the upper end of the business jet spectrum since its entry-into-service, with the 100th aircraft already being manufactured. This unparalleled business jet offers four true living areas, including a master suite with a full-size bed, and Bombardier’s patented Nuage seating collection for the ultimate comfort on long flights. Its industry-leading range of 7,700 nautical miles (14,260 kilometres) means passengers can fly nonstop from Western Europe to virtually anywhere on the planet, including Bali, Tokyo and Honolulu. The Global 7500 aircraft’s steep approach capabilities allow it to access London City and a variety of challenging airfields – and to fly out of these airports with excellent range.

The Challenger 350 aircraft is the industry’s best-selling super mid-size jet for seven years running, thanks to its performance, reliability and advantageous operating costs, not to mention its best-in-class cabin experience and smooth ride. This tour will provide an occasion for guests to learn more about the future of this renowned business jet, which will soon be evolving into the Challenger 3500 aircraft, entering service in the second half of 2022. This aircraft will have a brand-new interior and a host of innovations and was proudly designed through a sustainable lens.

Bombardier’s commitment to sustainability is also on display during this tour, as the Challenger 350 and Global 7500 aircraft are travelling through Europe on Sustainable Aviation Fuel (SAF), refined by Neste. Bombardier is a longtime proponent of the widespread adoption and availability of this fuel as an effective tool toward the industry’s goal to minimize its carbon footprint.

Visits to the aircraft are by appointment, and guests are required to follow COVID-19 protocols in place.

About Bombardier
Bombardier is a global leader in aviation, creating innovative and game-changing planes. Our products and services provide world-class experiences that set new standards in passenger comfort, energy efficiency, reliability and safety.

Headquartered in Montréal, Canada, Bombardier is present in more than 12 countries including its production/engineering sites and its customer support network. The Corporation supports a worldwide fleet of more than 4,900 aircraft in service with a wide variety of multinational corporations, charter and fractional ownership providers, governments and private individuals.

BombardierChallenger 350Challenger 3500, Global, Global 7500 and Nuage are registered or unregistered trademarks of Bombardier Inc. or its subsidiaries.

Bombardier Delivers First Two Global 7500 Aircraft to Proud Canadian Customers

  • Both aircraft will be managed by leading Canadian aircraft services provider, Chartright Air Group
  • With a growing worldwide fleet numbering more than 50 aircraft, the Global 7500 aircraft continues to exceed expectations
  • The superior performance, luxurious in-flight experience and signature smooth ride of this aircraft opens a new world of long-range travel possibilities for Canadian customers
BBDLOGO.jpg

MONTREAL, June 30, 2021 (GLOBE NEWSWIRE) — Bombardier today announced that two of the industry-leading Global 7500 aircraft were handed over to two different Canadian customers, marking the first deliveries of the flagship business jet in Canada. Both aircraft will be managed and offered for charter by leading Canadian aircraft services provider, Chartright Air Group, and will be based at Toronto’s Pearson International Airport.

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With production ramped up and a growing worldwide fleet numbering more than 50 aircraft, the Global 7500 aircraft continues to exceed the market’s expectations and reinforces its reputation as an entirely new class of business jet.

“As the Global 7500 business jet is assembled in Toronto and completed and delivered from Montreal, we are delighted that more Canadians will have the opportunity to share the enormous pride we feel at Bombardier when we witness this spectacular aircraft take to the skies,” said Éric Martel, President and Chief Executive Officer, Bombardier.

“Our Global 7500 aircraft continues to redefine long-distance business travel,” said Peter Likoray, Senior Vice President, Sales, New Aircraft, Bombardier. “The superior performance, luxurious in-flight experience and signature smooth ride of this aircraft will open a new world of long-range travel possibilities for Canadian customers, as it has done elsewhere in the world.”

The Global 7500 aircraft has the largest, most luxurious cabin, the longest range and the smoothest ride of any business jet ever built. With a maximum range of 7,700 nautical miles, a top speed of Mach 0.925 and an unrivalled short-field performance, the aircraft can fly passengers from Toronto to Johannesburg and Montréal to Bangkok* non-stop while bringing a host of secondary destinations and demanding airfields within easy reach.

“There is a tremendous buzz around the Global 7500 business jet and for very good reason. This aircraft sets a new industry standard on virtually every level, and the team at Chartright is thrilled to be the first charter operator in Canada to welcome these prestigious aircraft as part of its managed fleet,” said Adam Keller, President, Chartright Air Group. “With more customers turning to charter for convenience and peace of mind, we see nothing but a bright future ahead.”

The aircraft’s four spacious living areas, including a stateroom with an optional permanent bed and shower, are designed to deliver the ultimate in comfort and well-being over long-distance flights. Bombardier’s patented Nuage seating collection provides revolutionary, deep-recline comfort, an exclusive Soleil lighting system helps to combat jet lag, Bombardier Pũr Air, a sophisticated air purification and circulation system with an advanced HEPA filter, captures up to 99.99% of allergens, bacteria and viruses, and the cutting-edge Smooth Flĕx Wing minimizes the effects of turbulence for an incomparably smooth and restful ride.

About Chartright Air Group
For over 30 years Chartright has led the way in business aviation in Canada, evolving into one of the most trusted and innovative providers of business and private jet services in North America.

Visit chartright.com for more information.

About Bombardier
Bombardier is a global leader in aviation, creating innovative and game-changing planes. Our products and services provide world-class experiences that set new standards in passenger comfort, energy efficiency, reliability and safety.

Headquartered in Montréal, Canada, Bombardier is present in more than 12 countries including its production/engineering sites and its customer support network. The Corporation supports a worldwide fleet of more than 4,900 aircraft in service with a wide variety of multinational corporations, charter and fractional ownership providers, governments and private individuals.

News and information is available at bombardier.com

Bombardier Delivers First Global 7500 Aircraft in Indonesia

  • The world’s longest-range and most luxurious business jet joins a growing fleet of Global 7500 aircraft worldwide
  • Bombardier’s refreshed portfolio of Global aircraft, engineered for comfort, wellness, convenience and a smooth ride, have long-range capabilities that make them ideally suited to customers in the Asia-Pacific region

MONTREAL, June 18, 2021 (GLOBE NEWSWIRE) — Bombardier is pleased to announce the arrival of the first Global 7500 business jet in Indonesia. This award-winning aircraft was recently delivered to an undisclosed customer based in Jakarta.

With a worldwide fleet numbering more than 50 aircraft, the Global 7500 business jet continues to exceed expectations and reinforce its position as the industry flagship. This unparalleled aircraft is also growing its presence in the Asia-Pacific region, with Global 7500 business jets now based in multiple countries including Japan, Australia, Taiwan and Malaysia.

Bombardier’s entire portfolio is generating strong interest in the Asia-Pacific region, where a new generation of business jet users is emerging in the wake of the pandemic. With its refreshed Global family of large-cabin business jets and its best-selling Challenger platform, Bombardier is well-positioned to meet this growing demand.

“Global aircraft are designed to deliver the ultimate in luxury, performance and smooth ride over long-distance flights, making them ideally suited to customers in the Asia-Pacific region who are looking to connect far-flung city pairs,” said Nilesh Pattanayak, Regional Vice President, Sales, Asia Pacific, Bombardier. “The ultra-long-range Global 7500 aircraft opens up a world of possibilities for convenient and productive travel.”

The Global 7500 aircraft, with a maximum range of 7,700 nautical miles, can take passengers non-stop from Jakarta to Seattle, Singapore to San Francisco, Tokyo to New York and Melbourne to Los Angeles. Passengers can enjoy such long-distance flights in absolute comfort thanks to this aircraft’s four spacious living areas and patented Nuage seating collection. Exclusive innovations such as the Soleil lighting system, designed to combat jet lag, and the Smooth Flĕx Wing, delivering the smoothest ride, allow passengers to arrive refreshed and rejuvenated.

As more passengers look to business travel for convenience and peace of mind, the Bombardier Global 5500 and Global 6500 aircraft are also ideal for the Asia-Pacific market, featuring class-leading range, cabin size and the smoothest ride. With a 5,900 nautical-mile range, the Global 5500 aircraft can whisk passengers non-stop from Perth to Dubai, while the Global 6500 aircraft, featuring a 6,600 nautical-mile range, can connect Singapore to Rome nonstop.

All Bombardier Global aircraft are equipped with Pũr Air, a sophisticated air purification and circulation system with an advanced and scientifically proven HEPA filter, capturing up to 99.99% of allergens, bacteria and viruses.

Bombardier is significantly expanding its customer service footprint in the Asia-Pacific region with the creation of a state-of-the-art customer service centre at Essendon Fields Airport in Melbourne, Australia. The facility is targeted to be operational in 2022. Meanwhile, the ambitious expansion of Bombardier’s Singapore Service Centre is ongoing. This site at the Seletar Aerospace Park will quadruple the operation’s footprint, making it the largest OEM-owned business aviation maintenance facility in the region.

About Bombardier
Bombardier is a global leader in aviation, creating innovative and game-changing planes. Our products and services provide world-class experiences that set new standards in passenger comfort, energy efficiency, reliability and safety.

Headquartered in Montréal, Canada, Bombardier is present in more than 12 countries including its production/engineering sites and its customer support network. The Corporation supports a worldwide fleet of more than 4,900 aircraft in service with a wide variety of multinational corporations, charter and fractional ownership providers, governments and private individuals.

Bombardier Celebrates 15-year Anniversary of its Querétaro, Mexico, Site as Facility Delivers the 100th Global 7500 Aircraft Rear Fuselage

  • Anniversary marks Bombardier’s long-term commitment and contribution to the development of a leading aerospace industry in Mexico
  • Completion of the 100th Global 7500 aircraft rear fuselage by Querétaro’s dedicated and skilled employees marks another significant milestone in the flagship program’s learning curve acceleration

QUERÉTARO, Mexico, May 10, 2021 (GLOBE NEWSWIRE) — Bombardier is proud to announce the 15-year anniversary of its world-class manufacturing operations in Querétaro, Mexico. The achievement is further highlighted by the site’s recent completion of the 100th rear fuselage for the industry flagship Global 7500 business jet, underscoring the talent and skill of its dedicated employees.

Since establishing a manufacturing facility in Mexico in 2006, Bombardier has demonstrated its commitment to the country, helping develop and grow its aerospace industry. Today, Mexico’s reputable aerospace cluster makes it an important player on an international scale. Bombardier’s state-of-the-art facility in Querétaro employs highly skilled teams to manufacture key structural components for the company’s leading business jets, including the rear fuselage for all Global aircraft. This important mandate is a source of great pride for the talented local workforce.

“We are very proud to commemorate this important anniversary. Bombardier has played a significant role in the development and growth of Mexico’s aerospace industry,” said Paul Sislian, Executive Vice President, Operations and Operational Excellence, Bombardier. “I would like to thank our teams in Querétaro for all they’ve accomplished in the last 15 years. It’s through their hard work, commitment, and ingenuity that they have contributed to building the world’s leading business jets.”    

Bombardier is sharing this celebration with various organizations that have supported the aerospace industry in Mexico, including: the Aeronautical University in Querétaro (UNAQ), the Mexican Federation of Aerospace Industries (FEMIA) and the Aerocluster Querétaro (ACQ).

Beyond the company’s pledge to the aerospace industry in Mexico, Bombardier and its Querétaro employees are also very committed to the local community. Among its social initiatives, the company has a long-standing alliance with the Sierra Gorda World Biosphere Reserve, one of Mexico’s most important protected natural environments, through the responsible use of natural resources and the support of specific projects impacting the environment globally and locally. Bombardier also funds social projects implemented by an employee-led group called the Causa Querétaro.

At the heart of Bombardier’s site in Mexico are the approximately 1,200 highly skilled and dedicated employees who play a key role in the manufacture of world-class aircraft components and complex systems for Bombardier’s Challenger and Global business jets, including the rear fuselage for the Global 7500 aircraft. With the completion of another major structure for the 100th Global 7500 business jet, the Querétaro site is contributing to the progression of the program’s learning curve.

The completion of the 100th Global 7500 aircraft rear fuselage follows the 100th manufacture of the Global 7500 aircraft wing and the 50th Global 7500 business jet delivery in the first quarter of 2021, outlining strong interest for the industry’s flagship business jet and its remarkable performance since entering service.

About Bombardier
Bombardier is a global leader in aviation, creating innovative and game-changing planes. Our products and services provide world-class experiences that set new standards in passenger comfort, energy efficiency, reliability and safety.

Headquartered in Montréal, Canada, Bombardier is present in more than 12 countries including its production/engineering sites and its customer support network. The Corporation supports a worldwide fleet of approximately 4,900 aircraft in service with a wide variety of multinational corporations, charter and fractional ownership providers, governments and private individuals.

Bombardier Deliveries Flat, but Revenues Up in Q1

From AIN Online – link to source story

by Kerry Lynch – May 4, 2021

Global 7500

Bombardier’s earnings were strengthened in the first quarter as it progresses on the learning curve of Global 7500 production. (Photo: Barry Ambrose/AIN)

Bombardier delivered 26 business jets in the first quarter, on par with a year earlier, but revenues are expected to come in 18 percent higher, according to the company’s preliminary results.

Providing a sneak peek at its anticipated results slated for release on Thursday, Bombardier reported its business jet revenues are expected to be $1.3 billion, coming in well ahead of what financial data aggregator Seeking Alpha said were analyst consensus estimates of $1.18 billion. Further, earnings appear to have outpaced expectations, with an EBITDA from continuing operations of $123 million. Seeking Alpha reported consensus EBITDA estimates of $89 million.

“The preliminary financial results we are sharing today validate the actions we have taken to reposition our business and reflect the progress we are making on our strategic priorities,” said Bombardier president and CEO Éric Martel. “The first quarter was a strong start to the year, with our cost-reduction initiatives beginning to contribute to the bottom line, continued progress of our Global 7500 learning curve, and robust demand supporting significant year-over-year margin expansion.”

Bombardier believes it remains on track to deliver between 110 and 120 business jets this year, which keeps unit shipments at about the same level as the 114 delivered in 2020.

However, the company noted it received a letter from a holder of debt that matures in 2034 alleging that Bombardier’s sales of its transportation, regional jet, and aerostructures businesses were in breach of the loan covenants. Bombardier stressed that it believes the allegations are without merit and that the sales “enabled it to reposition the business, strengthen its balance sheet, accelerate de-leveraging, and better position Bombardier for long-term growth and value creation.”

Even so, Bombardier has decided to launch a consent solicitation with its outstanding senior notes or debentures to “clarify that the transactions are permitted by the applicable indenture and do not and will not give rise to any defaults, events of default, or change of control under the applicable indenture.” The company said it is taking this step in consultation with outside advisors, adding this will be “the most expedient and efficient path to maintain value and protect the corporation and its stakeholders.”

The sales of its non-business jet businesses were among several aggressive steps the corporation has taken to grapple with a heavy debt-load that became even larger as the pandemic took a toll on business operations last year.

Bombardier also is discontinuing Learjet production, realigning facilities, and reducing its global workforce to about 13,000 by year-end. In addition, Bombardier made a strategic decision to keep down capital expenses for new aircraft programs over the next several years.

Bombardier Celebrates Completion of 100th Global 7500 Business Jet Wing Manufactured in Texas

  • Milestone shines light on Global 7500 aircraft production growth and continued development of industry flagship business jet program
  • Advanced wing on Global 7500 aircraft, made in the U.S., delivers optimum speed, range, short-field capabilities and an exceptionally smooth ride
  • Bombardier recently marked the 50th delivery of the Global 7500 business jet, which continues to receive strong interest from customers worldwide

MONTREAL, April 12, 2021 (GLOBE NEWSWIRE) — Bombardier announced today that it is celebrating the completion of the 100th wing for its Global 7500 business jet, a significant milestone for the industry-leading aircraft and for the company’s facility in Red Oak, Texas, where the advanced wing is manufactured.

The advanced wing on the Global 7500 aircraft celebrates Bombardier ingenuity and know-how and contributes to the aircraft’s outstanding performance and exceptionally smooth ride, delivering the ultimate flying experience in business aviation today. It also plays a significant role in the aircraft’s exceptional short-field capabilities. The Global 7500 program recently marked its 50th aircraft delivery and continues to garner significant interest from customers worldwide for its innovative technology, unique cabin design and unmatched performance.

“This is an important milestone for our Global 7500 program, and we are proud of our skilled team in Red Oak, Texas,” said Paul Sislian, Executive Vice President, Operations and Operational Excellence, Bombardier. “Their dedication and expertise in manufacturing this truly unique wing, built exclusively for the Global 7500 business jet, is what helps make it the industry flagship.”

Since its entry-into-service in 2018, the Global 7500 business jet has demonstrated an outstanding dispatch reliability rate of 99.7% and has proven to be the highest-performing aircraft in the industry. It completed various key speed records and challenging flights, including the longest city-pair flown by a purpose-built business aircraft, connecting Sydney and Detroit non-stop.

The aircraft has also received multiple accolades, including the 2019 Aviation Week Grand Laureate Award, the 2019 Robb Report Best of the Best Business Jet of the Year Award, and the 2018 Red Dot Award for Product Design. With four distinct living spaces plus a dedicated crew rest area, it is unique among business jets in spaciousness, comfort, highly personalized design flexibility, and patented cabin innovations.

Bombardier’s 600-plus employees in Red Oak play a critical role in ensuring the success of the technologically advanced wing program. In 2019, Bombardier established the Bombardier Aviation Apprenticeship Program (BAAP) in association with Texas State Technical College (TSTC). The initiative is designed to develop local talent, drive regional aerospace growth, and support the manufacture of the Global 7500 aircraft wing. The BAAP program is critical in keeping up with increased customer demand for the industry-defining aircraft.

Earlier this year, Bombardier was awarded the Large Employer of the Year award from Texas Workforce Solutions for its work with TSTC in the development of the BAAP initiative. The Large Employer of the Year award honours one private-sector employer with 500 employees or more whose efforts and initiatives resulted in an extraordinary impact on the state of Texas, as well as the employers, workers and community in which the employer operates.

About Bombardier
Bombardier is a global leader in aviation, creating innovative and game-changing planes. Our products and services provide world-class experiences that set new standards in passenger comfort, energy efficiency, reliability and safety.

Headquartered in Montréal, Canada, Bombardier is present in more than 12 countries including its production/engineering sites and its customer support network. The Corporation supports a worldwide fleet of approximately 4,900 aircraft in service with a wide variety of multinational corporations, charter and fractional ownership providers, governments and private individuals.

Bombardier Marks 50th Global 7500 Aircraft Delivery Milestone

  • Global 7500 aircraft receiving positive market response for its unparalleled performance, innovative technology, unique cabin design and the smoothest ride
  • Global 7500 aircraft deliveries reaching steady run-rate as the company continues to swiftly progress through the program’s learning curve
  • Global 7500 in-service fleet demonstrating outstanding dispatch reliability rate of 99,7%
  • Global 7500 aircraft is the first business jet to have a third-party verified Environmental Product Declaration (EPD)

MONTREAL, March 29, 2021 (GLOBE NEWSWIRE) — Bombardier announced today that it delivered the 50th Global 7500 aircraft. The milestone delivery was achieved as production of the industry flagship continues to mature, and as the aircraft’s in-service performance continues to deliver very high levels of reliability.

The 50th delivery of the Global 7500 business jet follows a successful 2020, where Bombardier delivered 35 of these aircraft, including a record 16 deliveries in Q4. Bombardier continues to receive strong interest for the Global 7500 business jet and order activity is robust worldwide.

“The Global 7500 aircraft is unrivalled in the market,” said Éric Martel, President and Chief Executive Officer, Bombardier. “It provides an unmatched combination of speed, range, comfort and reliability, making it both the industry flagship and a key driver of our growth strategy. As we mark this delivery milestone, I want to recognize and thank the many talented employees who supported the development and launch of this aircraft, as well as those currently working on the program and supporting our customers in the field. The world-class calibre of workmanship and technology found in each aircraft continues to drive strong market demand and industry-wide recognition.”     

Since its entry-into-service at the end of 2018, the Global 7500 business jet has demonstrated an outstanding dispatch reliability rate of 99.7% in-service and has proven to be the highest-performing aircraft in the industry by completing various key speed records and challenging flights, including the longest city-pair flown by a purpose-built business aircraft, connecting Sydney and Detroit non-stop. In its inaugural year of service, the aircraft received multiple accolades including the 2019 Aviation Week Grand Laureate Award, the 2019 Robb Report Best of the Best Business Jet of the Year Award and the 2018 Red Dot Award for Product Design.

Thanks to visionary design and superior performance, the Global 7500 aircraft is the industry flagship, redefining the business aircraft experience. With four distinct living spaces plus a dedicated crew rest area, it is unique among business jets in spaciousness, comfort, highly personalized design flexibility and patented cabin innovations.

The advanced wing on the Global 7500 aircraft was conceived to optimize speed, range and control, and ensure an exceptionally smooth ride. The aircraft’s leading-edge wing design offers steep approach capability and short-field performance, while redefining flight comfort and wellness in business aviation. With its impressive and unsurpassed long-range capability of 7,700 nautical miles (14, 260 km) at M 0.85, it can fly eight passengers non-stop from New York to Hong Kong, and Singapore to San Francisco.*

Among its many distinctions, the Global 7500 aircraft is also the first business jet to have an Environmental Product Declaration (EPD), which provides detailed information about the aircraft’s life cycle environmental footprint. The Global 7500 aircraft is the first business jet conceived with this approach and reflects Bombardier’s commitment to its overarching environmental sustainability strategy.

About Bombardier
Bombardier is a global leader in aviation, creating innovative and game-changing planes. Our products and services provide world-class experiences that set new standards in passenger comfort, energy efficiency, reliability and safety.

Headquartered in Montréal, Canada, Bombardier is present in more than 12 countries including its production/engineering sites and its customer support network. The Corporation supports a worldwide fleet of approximately 4,900 aircraft in service with a wide variety of multinational corporations, charter and fractional ownership providers, governments and private individuals.

Bombardier Key Earnings Growth and Cash Generation Drivers at Virtual Investor Day

MONTREAL, March 04, 2021 (GLOBE NEWSWIRE) — Bombardier (TSX: BBD.B) today will host its virtual Investor Day, during which the company’s leadership team will provide its 2025 financial targets and market outlook, as well as highlight progress on the company’s actions to drive earnings growth and cash generation. These actions include capturing the value associated with progressing through the Global 7500 aircraft’s learning curve; delivering on the previously announced productivity and profitability initiative; executing on the company’s aftermarket growth strategy and deleveraging its balance sheet.

Presenters at Investor Day will include:

  • Éric Martel, President and Chief Executive Officer;
  • Bart Demosky, Executive Vice President, and Chief Financial Officer; and
  • Jean-Christophe Gallagher, Executive Vice President for Services, Support, and Corporate Strategy.

Market Outlook and 2025 Financial Targets1

Bombardier expects business jet deliveries to begin a gradual recovery this year. While the company estimates that it will take several years for the market to return to 2019 delivery levels, Bombardier is well positioned in the faster growing large and medium aircraft segments with its Global and Challenger aircraft families. As a result of its past investments, Bombardier is poised to deliver solid financial performance, highlighted by strong earnings growth over the next five years. The company also expects to turn free-cash-flow positive next year and generate more than $500 million in 20252. Specific 2025 financial targets include:

Bombardier 2025 Targets
Total Revenues~$7.5 billion
Adjusted EBITDA2~$1.5 billion
Adjusted EBITDA margin2~20%
Free-cash-flow2>$500 million
Year-end net leverage~3x

The company’s outlook assumes the continued successful roll-out of COVID-19 vaccines, a gradual lifting of international border restrictions and a continued economic recovery. This conservative outlook does not include the potential positive impact from the surge of new customers to private air travel following the onset of the global pandemic.

Balance Sheet Deleveraging

During the Investor Day presentations, the company will provide further details on its debt management strategy. Under its strategy, Bombardier intends to deploy the proceeds from the sale of Bombardier Transportation, prioritizing the pay down of near-term maturities with a focus on 2021 and 2022 tranches. The company is also considering various options to address other debt maturities in an opportunistic manner. The focus will be on clearing a minimum three-year maturity runway, providing the Company a clear path to execute its strategy.

Aftermarket Expansion

With respect to its aftermarket growth strategy, Bombardier will describe how past investments in expanding its worldwide services network and capabilities position the company to capture a greater share of a growing market and further diversify its overall revenues with more resilient and profitable aftermarket revenues. Specifically, the company expects to diversify its revenue mix by growing aftermarket services from ~18% of its revenues in 2020 to ~27% of its revenues by 20253.

Global 7500 Learning Curve

The company will also provide a program update on its flagship Global 7500 aircraft and explain that 2021 marks a significant milestone for the program as it transitions from negatively impacting earnings to being the biggest EBITDA contributor over the next five years. The company is nearing its 50th Global 7500 jet delivery and expects to achieve a 20% reduction in unit cost between the 50th and 100th delivery3.

Productivity and Profitability Initiative

Finally, during Investor Day, Bombardier will provide an update on its productivity and profitability initiative announced last month. The overall goal of this initiative is to make the company more efficient, agile and capable of delivering stronger financial performance under current market conditions, while also establishing a lower cost base for growth once the market recovers. Importantly, the company expects to achieve $400 million in recurring savings by 20233 through labor productivity improvements, reduced corporate costs and indirect spending, and by optimizing its manufacturing footprint.

Webcast Details

Bombardier’s Investor Day will begin at 9:00 a.m. (EST) and can be streamed live on Bombardier’s Investor Relations website: https://bombardier.com/en/investors/investor-events/2021/investor-day-2021

About Bombardier
Bombardier is a global leader in aviation, creating innovative and game-changing planes. Our products and services provide world-class experiences that set new standards in passenger comfort, energy efficiency, reliability and safety.

Headquartered in Montréal, Canada, Bombardier is present in more than 12 countries including its production/engineering sites and its customer support network. The Corporation supports a worldwide fleet of approximately 4,900 aircraft in service with a wide variety of multinational corporations, charter and fractional ownership providers, governments and private individuals.

Bombardier, Challenger, Global and Global 7500 are trademarks of Bombardier Inc. or its subsidiaries.

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