Canada’s Bombardier reports increase in 2023 business jet orders

MONTREAL, Canada: Bombardier chief executive Eric Martel has said that the company expects to deliver more business jets in 2023, despite ongoing supply-chain issues, which are expected to subside but not disappear.

After strong demand for private flying lifted its quarterly estimates above expectations, the Canadian company expects to deliver more than 138 jets in 2023, compared with 123 in 2022.

"Today there are less suppliers that have issues, but those that remain have sometimes deeper issues which we need to work with," Martel told reporters.

Demand remains resilient despite economic headwinds, he added, stating, "We all understand there’s a nervousness in the economy right now, but we see our start to be a normal start."

Due to ongoing demand after the easing of COVID-19 restrictions, business jet manufacturers’ backlogs rose over the past two years.

However, the demand for private jets, while higher than in 2019, is expected to level off this year.

Bombardier’s backlog at the end of 2022 was valued at $14.8 billion, an increase of $2.6 billion.

According to Refinitiv data, the company predicts a 2023 revenue of more than $7.6 billion, compared with estimates of $7.69 billion.