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Bombardier Cuts Business Jet Production

by Leroy Baker, Tax-News.com, New York

15 May 2015


Bombardier Business Aircraft has announced that it is cutting production of its Global 5000 and 6000 series aircraft in response to falling demand for business jets, particularly in key emerging markets.

In a statement published on May 14, Bombardier confirmed that "current economic conditions and geopolitical issues" in some market regions, such as Latin America, China, and Russia, have impacted order intake levels industry-wide. As a result, it will reduce its workforce by approximately 1,750 employees beginning in June 2015.

"We have seen an industry-wide softness in demand recently in certain international markets and are taking steps to adjust our production accordingly," said Éric Martel, President, Bombardier Business Aircraft.

However, Martel expects market weakness to be short-lived, adding that "we are well positioned to be the market share leader in the segments where we compete."

Bombardier was the industry leader in unit deliveries in the first quarter of 2015, according to the latest US-based General Aviation Manufacturers Association aircraft deliveries shipment and billing results.

TAGS: Russia | business | aviation | employees | China

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