Bombardier is anticipating a strong 2022 and has stated that it plans to increase deliveries by up to one-fifth as early as 2023.
After presenting financial results for 2021 on February 10, 2022, the Canadian manufacturer, which is now focusing on business jets like as its Challenger and Global 7500 lines, made the remarks.
In keeping with their updated projection, Bombardier delivered 120 units in 2021. It stated that over 120 deliveries would be made in 2022, with production largely sold out.
“Looking ahead, we are positioning ourselves to increase the number of deliveries by another 15-20% as soon as 2023, while maintaining a sharp focus on balancing longer-term production increases with the pricing environment,” chief executive Éric Martel said in the press statement.
Because of its flexibility and the ability to escape airport congestion, business flying has become increasingly popular during the pandemic.
Bombardier reported adjusted EBITDA of $640 million in 2021, up from $200 million in 2020 and exceeding its projection of over $575 million. Revenues from business aircraft increased to $6 billion in 2020, up from $5.8 billion the previous year.
“Overall, the 2021 results are proof that our plan gave us both the structure and the agility to manage any outside obstacles and capitalize on a faster-than-expected industry recovery,” Martel commented on the numbers.
Bombardier expects revenues to exceed $6.5 billion in 2022, with profits expected to increase by 29% to over $825 million.
“While we still have much to do, we are now on firm ground and can look into the future with optimism,” Martel said.