Bombardier burns more cash as inventory increases to support business jet ramp up

The Montreal-based company is facing pressure from rival General Dynamics' Gulfstream, which had its flagship G700 luxury jet certified last month by the U.S. Federal Aviation Administration. Business jet makers are reporting sustained demand for their aircraft, although industry data shows private flying has been leveling off after years of growth spurred by the pandemic. Bombardier on Thursday reported 20 aircraft deliveries in the first quarter, which it said will put it on track to handover 150 to 155 jets this year.

Bombardier reported higher first-quarter cash burn on Thursday as the Canadian planemaker builds up inventory to support increased production of business jets amid resilient demand for private flying. The Montreal-based company is facing pressure from rival General Dynamics' Gulfstream, which had its flagship G700 luxury jet certified last month by the U.S. Federal Aviation Administration. Business jet makers are reporting sustained demand for their aircraft, although industry data shows private flying has been leveling off after years of growth spurred by the pandemic.