(Reuters) – Bombardier (OTC:) stated on Thursday its third-quarter income rose 12%, helped by sturdy demand for enterprise jet components and repairs.
Enterprise jet makers are growing their order backlogs as they profit from a wave of curiosity from rich travellers that has continued for the reason that COVID-19 pandemic.
Regardless of an 18-day strike in July at one in all its Canadian amenities, Bombardier delivered 30 jets in the course of the third quarter ending September, in contrast with 31 plane a 12 months earlier.
The Challenger jet maker reported money burn, a metric carefully watched by buyers, of $127 million in the course of the quarter, in contrast with a optimistic money circulate of $80 million in the identical interval final 12 months.
Bombardier maintained its full 12 months forecast for jet deliveries of 150 to 155 plane.
Income from the corporate’s companies enterprise rose 28% within the third quarter to $528 million.
Montreal-based Bombardier reported quarterly income of $2.07 billion, in contrast with $1.86 billion a 12 months earlier.
On an adjusted foundation, it earned 74 cents per share within the third quarter, in contrast with 73 cents per share in the identical interval final 12 months.
