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Bombardier Inc
Symbol C : BBD.A
Shares Issued 313,900,550
Close 2017-07-14 C$ 2.40
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Globe says Bombardier begins luxury-jet assembly

2017-07-17 08:40 ET - In the News

The Globe and Mail reports in its Monday edition that Bombardier has started building its new Global 7000 luxury jet for initial customers, capitalizing on new factory systems to speed up manufacturing as it tries to get the plane certified and into service by the end of 2018. The Globe's Nicolas Van Praet writes that Bombardier, which received $372.5-million in federal aid earlier this year earmarked largely for the new Global jet, said it is running four Global 7000 planes through final assembly in Toronto. At the same time, three Global 7000 jets are in flight testing, with two others expected to join them shortly. "The program's development and certification schedule is on track," Michel Ouellette, senior vice-president in charge of the Global 7000/8000 program, said in a statement released Sunday. "Our confidence level is high." The Global 7000, which sells for a list price of about $72-million (U.S.), and sister 8000 aircraft, are Bombardier's biggest business jets. Their development is a key pillar of the company's turnaround plan. The company hopes to build a luxury-aircraft business that will generate a minimum 8-per-cent pretax margin on revenue of $10-billion by 2020.

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