Bombardier’s business aircraft revenues reached US$1.7 billion in the fourth quarter ended December 31, 2021, down 24% compared to the same period of 2020.
• Read also: Ex-C Series: when will the subsidies stop?
• Read also: C Series madness
The Quebec company justified this drop in income due to a decline in deliveries. Bombardier thus has six fewer aircraft in the fourth quarter than the corresponding quarter of the previous fiscal year, for a total of 38 aircraft compared to 44.
The aircraft manufacturer, however, reported a profit of US$80 million for this quarter, or US$0.03 per share, compared to a loss of US$475 million in the fourth quarter of last year, or US$0.2. per share.
For the full fiscal year 2021, Bombardier generated US$6.085 billion in revenue, down 6% from fiscal year 2020.
“The words caution, planning and execution best sum up 2021,” said Éric Martel, President and CEO of Bombardier.
“Overall, our results for 2021 provide strong evidence that our plan gives us both the structure and the agility to manage external headwinds and capitalize on the faster-than-expected industry recovery.” he added.
For 2022, the company expects its annual revenue to exceed 2021 to more than US$6.5 billion, due in part to “a better mix of aircraft deliveries […] as well as growth in our aftermarket services business as 12-month flight hours continue to increase and new service facilities come on stream.” .