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Bombardier Aerospace Delivers 302 Aircraft in Fiscal Year 2009/10

February 5, 2010 Montréal Aerospace,  Press Release

  • Business aircraft: 176 deliveries; 85 negative net orders
  • Commercial aircraft: 121 deliveries; 88 net orders
  • Amphibious aircraft: 5 deliveries; 8 net orders

Bombardier Aerospace announced today that it delivered 302 aircraft for the fiscal year ending January 31, 2010, compared to 349 aircraft deliveries in the previous fiscal year 2008/09 (year ending January 31, 2009). It received 11 aircraft orders, net of cancellations, compared to 367 orders, net of cancellations, for the previous fiscal year. With the aviation industry continuing to struggle in the current difficult economic environment, Bombardier Aerospace’s performance was solid.

“The global economic crisis which began in 2008 continued to impact the civil aviation industry throughout 2009 as conditions remained challenging,” said Guy C. Hachey, President and Chief Operating Officer, Bombardier Aerospace. “While indicators of market stabilization have started to emerge, we remain cautious as economic uncertainty still prevails. We have taken significant steps to strengthen our operations and continue to invest significantly in future programs. We strongly believe that through flawless execution and by creating a loyal customer base for our products and services, we will emerge from this crisis a stronger and more efficient company,” he added.

Business Aircraft
In fiscal year 2009/10, Bombardier delivered 176 business jets, compared to 235 for the same period last fiscal year, in line with the 25 per cent decrease in business aircraft delivery guidance provided in 2009.

Business aircraft deliveries for the current fiscal year 2010/11 are expected to be approximately 15 per cent less than fiscal year 2009/10.

Commercial Aircraft
In fiscal year 2009/10, Bombardier delivered 121 commercial aircraft, compared to 110 for the previous fiscal year. This is in line with the 10 per cent increase in commercial aircraft delivery guidance provided last year.

Bombardier expects that most of the deliveries of its commercial aircraft will take place in the last three quarters of the current fiscal year 2010/11 as a result of the production rate reductions announced in 2009 and the delay in the certification and entry into service of the CRJ1000 aircraft to the second half of fiscal year 2011. Compared to the previous fiscal year, the Corporation expects to deliver approximately 20 per cent fewer commercial aircraft in fiscal year 2010/11.

Tables at the end of this press release provide delivery totals and net order totals for business, commercial and amphibious aircraft for the previous fiscal year 2009/10.

Note:
All fiscal year 2009/10 delivery and order numbers are unaudited.

About Bombardier
A world-leading manufacturer of innovative transportation solutions, from commercial aircraft and business jets to rail transportation equipment, systems and services, Bombardier Inc. is a global corporation headquartered in Canada. Its revenues for the fiscal year ended Jan. 31, 2009, were $19.7 billion US, and its shares are traded on the Toronto Stock Exchange (BBD). Bombardier is listed as an index component to the Dow Jones Sustainability World and North America indexes. News and information are available at www.bombardier.com.

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Bombardier and CRJ1000 are trademarks of Bombardier Inc. or its subsidiaries.

For Information
Marc Duchesne
Bombardier Aerospace
+1 514 855 7989

www.bombardier.com

 

TABLES

Fiscal year 2009/10 delivery totals

Aircraft

Deliveries

Fiscal year 2009/10 (Year ending Jan. 31, 2010)

Deliveries

Fiscal year 2008/09 (Year ending Jan. 31, 2009)

Commercial aircraft

 

 

  CRJ Series

60

56

  Q-Series

61

54

 

121

110

Business aircraft

 

 

  Learjet Series

44

70

  Challenger Series

82

115

  Global Series

50

50

 (including those in the fractional ownership program*)

176

235

Amphibious Aircraft

 

 

  Bombardier 415

5

4

Grand total

302

349

* An aircraft delivery is included in the above table when the equivalent of 100 per cent of the fractional shares of an aircraft model has been sold to external customers.

Fiscal year 2009/10 net order totals

Aircraft

Net Orders

Fiscal year 2009/10 (Year ending Jan. 31, 2010)

Net Orders

Fiscal year 2008/09 (Year ending Jan. 31, 2009)

  CRJ Series

22

47

  Q400

16

67

  CSeries

50

0

Commercial aircraft

88

114

Business aircraft

(85)

251

(including those in the fractional ownership program**)

 

 

Amphibious Aircraft

8

2

Grand total

11

367

** An aircraft order is included in the above table when the equivalent of 100 per cent of the fractional shares of an aircraft model has been sold to external customers.

Note:
All fiscal year 2009/10 delivery and order numbers are unaudited.

FORWARD-LOOKING STATEMENTS
This press release includes forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “anticipate”, “plan”, “foresee”, “believe” or “continue” or the negatives of these terms or variations of them or similar terminology. By their nature, forward-looking statements require Bombardier Inc. (the “Corporation”) to make assumptions and are subject to important known and unknown risks and uncertainties, which may cause the Corporation’s actual results in future periods to differ materially from forecasted results. While the Corporation considers its assumptions to be reasonable and appropriate based on current information available, there is a risk that they may not be accurate. For additional information with respect to the assumptions underlying the forward-looking statements made in this press release, refer to the respective Forward-looking statements sections in BA and BT in the Management’s Discussion and Analysis (“MD&A”) of the Corporation’s annual report for fiscal year 2009.

Certain factors that could cause actual results to differ materially from those anticipated in the forward-looking statements include risks associated with general economic conditions, risks associated with the Corporation’s business environment (such as the financial condition of the airline industry), operational risks (such as risks involved in developing new products and services, risks in doing business with partners, risks relating to product performance warranty, casualty claim losses, risks from regulatory and legal proceedings, environmental risks, risks relating to the Corporation’s dependence on certain customers and suppliers, human resource risks and risks resulting from fixed-term commitments), financing risks (such as risks resulting from reliance on government support, risks relating to financing support provided on behalf of certain customers and to reliance on government support, risks relating to liquidity and access to capital markets, risks relating to the terms of certain restrictive debt covenants) and market risks (including foreign currency fluctuations, changing interest rates and commodity pricing risk). For more details, see the Risks and Uncertainties section of the MD&A of the Corporation’s annual report for fiscal year 2009. Readers are cautioned that the foregoing list of factors that may affect future growth, results and performance is not exhaustive and undue reliance should not be placed on forward-looking statements. The forward-looking statements set forth herein reflect the Corporation’s expectations as at the date of this press release and are subject to change after such date. Unless otherwise required by applicable securities laws, the Corporation expressly disclaims any intention, and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

CAUTION REGARDING NON-GAAP EARNINGS MEASURES
This press release is based on reported earnings in accordance with Canadian generally accepted accounting principles (GAAP). It is also based on EBITDA, and Free Cash Flow. These non-GAAP measures are directly derived from the Consolidated Financial Statements, but do not have a standardized meaning prescribed by GAAP; therefore, others using these terms may calculate them differently. Management believes that a significant number of the users of its MD&A analyze the Corporation’s results based on these performance measures.

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