Statement by Bart Demosky, Executive Vice President & Chief Financial Officer
The return to the S&P/TSX Composite Index is a continued demonstration of the consistent performance by Bombardier’s teams at all levels to deliver on the plan set out at Investor Day earlier this year.
The plan we shared in March remains on track. We continue to focus on becoming a more predictable, profitable and resilient business aviation company.
Bombardier has made considerable progress on all the announced priorities. The Global 7500 is performing to plan and we are well on our way to delivering our 100th aircraft. Our cost reduction plan is performing ahead of plan so far this year. The aftermarket expansion we have undertaken remains on track, and with increased flight hours our facilities are kept busy with more service events.
In terms of debt management, we have met one of our key strategic imperatives, clearing maturity runway through December 2024. With 55 business jets delivered in the first half of 2021, Bombardier is number one in the world in business aircraft in terms of sales revenue and deliveries in the segments in which it competes.
Of course, the successful path we are currently on could only be possible thanks to an incredible collective team effort, from production, engineering and services to effective sales campaigns. The recent successful launch of the Challenger 3500 aircraft is a perfect example and culmination of this. The update to what has already been the industry’s best-selling aircraft in its segment will allow Bombardier the opportunity to capture even further market share when it enters into service.
We remain focused on executing on our strategic priorities and to build on the significant progress we have made so far this year. We will keep clear, transparent communication with our stakeholders as we continue to reach further milestones.
Manager, Communications and Public Relations
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