Business Jets Order Worth $2.2 Billion Won by Bombardier
Posted by: Prince Jets May 31, 2014 08:05 AM
An order worth $2.2 billion for thirty eight business jets was won by Bombardier Inc; the order is said to be the largest of the three orders made in the previous week to this company that makes planes. According to Bombardier, a plane-making company based in Montreal, 10 of the orders would be the 605 Challenger planes while the remaining 28 would be the company’s global family aircrafts which are the largest models. Discounts can be offered to buyers based on valuation of aircrafts that are equipped typically and this depends on the plane’s list price.
Prior to this order for 38 planes, the company received an order worth $280 million for 10 Challenger planes on the 24thof December as per the prices on the company catalog. The last order for 10 distinct planes in the Challenger family was worth $259 million. However, Bombadier failed to identify the clients that made these orders. Although Embraer SA sold the most business jets in the region to airlines operating in the US, Bombardier barely sold its new CSeries family of planes that were specifically designed to compete with the SAS Airbus planes and the Boeing Co. However, the company Bombardier is said to have reaped big in the sale of business jets in the past one year.
According to Bombardier’s spokeswoman, the release of the company’s financial results will be accompanied with a tally of all orders made in the year. Depending on the configuration of global plane models, the seats can accommodate as many as 19 passengers. For transcontinental trips the Global 8000 planes can span a maximum mileage of 14,631 km, making them ideal for larger planes and corporate executives. Although Bombardier had a 51% gain in 2007, their gains in 2013 dropped to 23%. Industrial stocks had a surge of 35%, while the composite index of TSX/Standard & Poor stood at 10%.
Today, before the announcement of the purchase of the business jets, the company’s class B shares gained 0.7% to trade at C$4.61 in Toronto, Canada.