New Business Jets built by Bombardier to Come by 2023
The Canadian manufacturer of business jets, Bombardier is soon going to meet its 2019 delivery targets for the Global 7500 business jets. As revealed by an executive on Wednesday, “For achieving targets, the firm has shifted manpower from other planes to its main flagship corporate aircraft program.”
As per the targets set, the firm will have to deliver most of the promised targets during the last three months of the year, so that there isn’t much scope for errors in execution. The plane and train maker is expecting to deliver nearly 15 to 20 Global 7500s in 2019.
Listed as the key revenue driver for Bombardier, the deliveries of the Global 7500 business jets are being closely monitored by analysts and investors, who list it at US$73 million.
Speaking on the matter, Chief Operating Officer Paul Sislian said, “Bombardier’s strategy of shifting manpower from its Global 5500 and 6500 business jets to the Global 7500 is working and will help the plane maker make guidance by year’s end.”
At an event near Toronto, Sislian said, “The strategy is that we have highly skilled people on both our product lines. What we’re trying to do is leverage the people from one product to the other so we hit our targets for all of them.”
Sources reveal five jets have already been delivered before November and 10 to 15 business jets will be delivered by the last quarter of 2019.
The jets might be produced at a newly-constructed Toronto Pearson airport site in 2023 because the firm is planning to move Global production out of the current Toronto Downs view site. A lease agreement has been signed with “Greater Toronto Airports Authority” to build a 92,900 sq m (1million sq ft) “Global Manufacturing Centre” at Pearson airport in Mississauga, Ontario.
Chief Executive Alain Bellemare says that the relocation is symbolic of Bombardier’s “strong commitment to Ontario’s aerospace industry.” It was several years earlier that Bombardier started divesting assets due to ongoing financial struggles because of the weight of the CSeries airliner development programme.
As per the General Aviation Manufacturers Association, “In spite of these turbulences, the deliveries of business jets have surged by more than 15 percent to 515 worldwide in the initial nine months of 2019. “
An official of Unifor, Bill Bell commented on the issue saying by Dec 20, Bombardier will have laid of more than 100 production and inspection workers from the Global 7500 business jets program.
Unifor official Bill Bell said Bombardier will have laid off more than 100 production and inspection workers from the Global 7500 program by Dec. 20, however.
Despite having a lease on the land till 2021, with a two-year extension option, the Downsview plant property was sold. Union President Jerry Dias says, “Unifor welcomes this announcement and the preservation of good-quality aerospace jobs.”
Bombardier also sold the Downsview plant property that sits on to the Public Sector Pension Investment Board, though it has a lease on the land until 2021, with a two-year extension option.
“Unifor welcomes this announcement and the preservation of good-quality aerospace jobs,” said union president Jerry Dias.
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