Canadian luxury jet manufacturer Bombardier expects its aircraft deliveries to exceed 120 units this year, compared to an earlier forecast of 110-120 units, and has raised its earnings guidance by $75mn.
The company said that it raised its annual guidance to display the market strength seen in the past quarter. Eric Martel, the firm’s chief executive officer, said that demand and interest in private aviation are gaining momentum and Bombardier plans to capitalize on this.
Bombardier has raised its revenue guidance for 2021 from exceeding $5.6bn to more than $5.8bn while its adjusted EBIT is now expected to be upwards of $175mn, compared to an earlier floor limit of $100mn.
The aircraft maker delivered 29 units in Q2 2021, up 45pc from the same period last year. Meanwhile, revenues rose 25pc to $1.52bn from $1.22bn in Q2 2020. It made a net profit of $139mn in the quarter, recovering from a loss of $223mn in last year’s second quarter.