Bombardier sees revenues rise to $1.5 billion in first quarter

Canadian private jet manufacturer Bombardier reported a 17% YoY rise in revenues to $1.5bn during Q1 2023, reflecting strong profits driven by better aircraft margins, particularly on large-cabin aircraft, and aftermarket growth.

Bombardier delivered 22 business jets between January and March 2023, up one compared to last year, but the jets were in the mid-size and large-cabin range, leading to higher profit margins. Meanwhile, Bombardier’s aftermarket business contributed $424m in Q1 2023 revenues, up 17% YoY.

The company is ramping up production to reach its target of more than 138 deliveries this year, and its new Global production facility in Toronto is set to open at the end of 2023.