Bombardier is expecting a good 2022 and said it is looking to boost deliveries by up to one-fifth as soon as 2023.
The Canadian company, which is now focusing on business jets such as its Challenger and Global 7500 lines, made the comments after reporting financial results for 2021 on February 10, 2022.
Bombardier delivered 120 units in 2021, in line with its revised guidance. It said it was targeting over 120 deliveries in 2022, with production largely sold out.
“Looking ahead, we are positioning ourselves to increase the number of deliveries by another 15-20% as soon as 2023, while maintaining a sharp focus on balancing longer-term production increases with the pricing environment,” chief executive Éric Martel said in the press statement.
Business aviation has proven popular during the pandemic thanks to its flexibility and the chance for people to avoid airport crowds.
In terms of 2021 profit, Bombardier reported adjusted EBITDA of $640 million, compared with $200 million for 2020 and above its guidance for over $575 million. Business aircraft revenues rose to $6 billion from $5.8 billion in 2020.
“Overall, the 2021 results are proof that our plan gave us both the structure and the agility to manage any outside obstacles and capitalize on a faster-than-expected industry recovery,” Martel commented on the numbers.
For 2022, Bombardier is expecting revenues to reach over $6.5 billion and predicts profits will rise 29% to over $825 million.
“While we still have much to do, we are now on firm ground and can look into the future with optimism,” Martel said.