Bombardier expects business jet deliveries to begin recovery this year
March 4, 2021 By The Canadian Press
MONTREAL — Bombardier Inc. says it expects business jet deliveries to begin a gradual recovery this year, but that it will take several years for the market to return to 2019 levels.
In its outlook released today, the company says it expects to turn free-cash-flow positive next year and generate more than US$500 million in 2025.
Bombardier set a revenue target of US$7.5 billion for 2025.
The company noted that its outlook assumes the continued successful rollout of COVID-19 vaccines, a gradual lifting of international border restrictions and a continued economic recovery.
Bombardier recently completed a restructuring of the company that included the sale of its commercial aircraft and railway divisions.
The company says it intends to use the proceeds from the sale of Bombardier Transportation to pay down debt with a priority on near-term maturities.