Bombardier lands $1bn jet order from Vista Global
Canadian plane manufacturer Bombardier said on Wednesday that Dubai-based private jet provider Vista Global has placed an order worth $1.18 billion for 40 Challenger 3500 business jets.
The order includes options for an additional 120 planes, which would bring the total value of all 160 aircraft to about $4.72 billion, Bombardier said.
The deal comes amid sustained demand for private flying, which is swelling business jet makers’ order books.
Challenger 3500 is an upscaled variant of Bombardier’s Challenger 350 business jet and seats up to 10 passengers.
Bombardier, which reported an 11 percent rise in third-quarter revenue in November last year, is considering raising production of private jets. Customer demand for aftermarket care of jets is also growing, leading to service expansion in the US.
The Montreal-based company’s shares have risen over 211 percent in the last year.
Bombardier recently came under fire from US President Donald Trump’s threats to decertify its business jets, over Ottawa’s lengthy certification of jets produced by US rival Gulfstream.
However, that dispute seems to be at its end, with the head of the US Federal Aviation Administration saying on Tuesday he expected Canada to certify some Gulfstream business jets that had been delayed for years.
Further reading:
- Frank Kane: How to flaunt it with the Dubai jet set
- Used private jets soar as Gulf aircraft deliveries stall
- Gulf’s thriving private jet industry uncowed by eco concerns
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