Canada's Bombardier's first quarter profits up 12pc to US$220 million

CANADA's Bombardier aircraft maker posted a 12 per cent year-on-year first quarter profit increase to C$220 million (US$225.3 million) drawn on revenues of C$4.7 billion, up nine per cent.


The news follows reports of a recently received a US$665 million order from Sweden to buy ten C-series narrow-body, twin-engine, medium-range jet airliners, which follows a C$446 million order from India's SpiceJet in December to buy 15 twin-engined, medium range turboprop airliners.


"Bombardier Aerospace (aviation wing) has started to benefit from a stronger business aircraft market, especially at the high end. And once again, our state-of-the-art business aircraft product offering has paid off, as illustrated by the increased level of new orders this quarter," Bombardier president and CEO Pierre Beaudoin said.


Referring to the Swedish order, he said the "cloud of uncertainty hanging over civil aviation is lifting, with a substantial increase in our orders for business jets in the last quarter. "Our commercial aircraft segment, although slower to recover, is seeing an improved level of interest from customers."
(Source:http://www.schednet.com)