Bombardier is raising its full-year estimates for aircraft deliveries and revenue, helped by higher business jet traffic and demand for aircraft.
The company issued guidance that said it would use less free cash in 2021 than previously expected, after beating analysts’ estimates for quarterly revenues on higher deliveries and demand for aftermarket services.
Bombardier is forecasting 120 business jet deliveries in 2021, up from 110.
Business jet revenue for the three months ending June 30 jumped 50% to $1.5 billion, compared with the $1.3 billion that analysts were expecting.
Bombardier’s full-year revenue is expected to exceed $5.8 billion.
Business jet flights were up 23% in the week-beginning July 21 over 2019 levels in the United States according to recent data.
In support of the increased demand forecasts business jet OEM’s Textron and Gulfstream Aerospace (General Dynamics Corp.) also are raising production to meet higher demand.
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