Belfast Telegraph

Saturday 20 September 2014

Bombardier profits soar 25% as CSeries jet sales on upward flight

Belfast's Bombardier manufacturers wings for the new CSeries jet to be unveiled in June

Bombardier has posted a 25% rise in year-on-year profits for the first three months of this year, crediting a strong performance in its aerospace division and healthy sales of the new CSeries jet, the wings of which are made in Belfast.

The Canadian plane and train maker also said that the first flight of the new CSeries jet remains set for June 30.

Overall, the firm had revenues of $4.3bn (£2.8bn), compared to $3.5bn (£2.3bn) for the same period last year

Bombardier Aerospace's revenues amounted to $2.3bn (£1.5bn) for the three-month period compared to $1.5bn (£1bn) for the same period last fiscal year.

A total of 53 aircraft were delivered during the first quarter ended March 31, 2013, compared to 37 for the same period last fiscal year, including 39 business aircraft, compared to 29 for the same quarter last fiscal year.

As of the end of March 2013, the firm said it has orders for the purchase of 338 CSeries aircraft, including 145 firm orders from nine customers in eight countries.

It has targeted 300 firm orders by mid-2014.

The wings of the CSeries were invented, designed and are manufactured in a special facility in the Titanic quarter in Belfast.

Bombardier's plant in the east of the city also makes engine covers, fuselages and many other parts for planes in the CRJ, Q-Series and CSeries commercial jets and the Learjet, Challenger and Global business aircraft families.

A total of 53 aircraft were delivered in the first quarter, compared with 37 in the same period last year, including 39 business jets, up from 29.

Bombardier president and chief executive officer Pierre Beaudoin said that the firm had enjoyed a good first quarter.

"Aerospace is showing increased deliveries, revenues and EBIT, and the CSeries tests are progressing well with first flight next month," he said.

Bombardier Aerospace has signed a purchase agreement with Russia's Ilyushin Finance Co to acquire 32 CS300 aircraft, with options for an additional 10.

At the end of the quarter, in April, Porter Airlines was identified as the previously unidentified Americas-based CSeries aircraft customer when it announced the conversion of its letter of intent to a conditional agreement for up to 30 CS100 aircraft.

Danish lessor Nordic Aviation Capital purchased four Q400 NextGen aircraft, bringing its Q400 aircraft fleet to 43.

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