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Bombardier slightly cuts long-term outlook

Tags: Bombardier

Bombardier Inc. (BBD.B-T) is anticipating a slight downturn in its annual 20-year forecast for the global commercial aircraft market but says business jet deliveries will return to sustained growth next year.

The Montreal-based plane and train maker says it is “confident in the strong, long-term potential of the businesss aircraft industry” and forecasts a total of 24,000 business jet deliveries from 2012 to 2031.

That represents about $648 billion (US) in industry revenues.

On the commercial side, in the 20-to-149-seat segment, the company sees 12,800 deliveries over the next 20 years, a decrease of 300 units or 2.3 percent compared to last year’s forecast, mainly due to a lower GDP forecast and a sharp increase in the anticipated oil price.

Bombardier released its forecast Tuesday, ahead of the Farnborough International Airshow in Britain, where observers will be closely monitoring the number of new orders it announces.

Of particular interest will be how its new long-range C Series jet performs.

Bombardier is betting big on the C Series, as well as two new business jets in the high-end Global family.

So far, Bombardier has 11 customers who have placed firm orders for 138 C Series jets, with options, purchase rights and letters of intent on another 272 planes.

Bombardier said in its forecast Tuesday that the business aviation market continues to recover after some difficult years following the financial meltdown, but that current market indicators are "mixed."

"Market confidence needs to be fully restored for industry business jet deliveries to increase strongly and enable the industry to realize its full potential."

This year should be comparable to 2011, but a return to sustained growth is expected starting in 2013, the company says. CTV Two CTV News CTV News Channel BNN - Business News Network CP24