Canadian-based company, Bombardier, reports strong orders and delivery performances for its business jet division during the three months ending September 30, 2016. Bombardier, a leading leading manufacturer of planes and trains, made the announcement at the National Business Aviation Association (NBAA) convention in Orlando, Florida.
Bombardier has struggled in the last few years with cost overruns in its aerospace unit. As part of its turnaround plan aimed at improving operations amid cost and productivity concerns, the Montreal-based company was forced to cut about 10 percent of its global workforce. In an interview with CNBC, chief executive officer Alain Bellemare said "We understand these are difficult decisions... but in the end what we are going to be left with is a leaner, stronger organization." The company's move is a part of a five-year turnaround plan launched in 2015 to improve revenue, margins and cash flow. As part of the restructuring process, there will be a reorganization of administrative and non-production functions, with centers of excellence to be created for design, engineering and manufacturing.
According to a report from Montreal Gazette, Bombardier announced that they have delivered an industry leading 36 business jets for the third quarter. The deliveries include 7 Learjet, 19 Challenger and 10 Global aircraft. This brings their year-to-date total to 109. With this success, Bombardier anticipates to exceed the 150 deliveries in 2016. In their performance report, Bombardier disclosed gross orders for 30 aircraft in the quarter, for a total of 122 in 2016.
"I'm very pleased with our performance in this very competitive environment," said David Coleal, President of the Bombardier Business Aircraft. "We are seeing the benefits of the proactive actions we took last year to both align our production rates with market conditions and better serve our clients. Our new direct customer sales approach has enabled us to provide our clients with the best value proposition in the industry and generate a robust net book-to-bill ratio approaching 1.0."
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