Wednesday, October 20, 2021

Bombardier bags $534 million order for 20 Challenger 3500 jets

Bombardier Inc. Eric Martel, President and CEO, unveils a mockup of the company’s new Challenger 3500 business jet at a virtual event on September 14, 2021 in Montreal, Quebec, Canada. (Christine Muschi/Reuters)

Bombardier Inc. said on Thursday it has received a confirmed order worth $534 million for 20 units of an upgraded version of its Challenger 350 aircraft, its biggest commercial jet deal this year.

The refreshed jet, named the Challenger 3500, was launched earlier this month as Bombardier seeks to protect its dominant share of the market and capitalize on the high demand for private flying during the pandemic.

Bombardier, which has focused on repaying debt after facing a cash crunch in 2015, is under constant pressure to upgrade its expensive business jets in a market where wealthy buyers demand the latest features.

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The Challenger 3500 can seat up to 10 passengers and comes with a voice controlled cabin system for multiple functions such as lighting and multimedia. It is also equipped with a smaller version of the chaise lounge seats found on the flagship Global 7500.

The jet, expected to enter service in the second half of 2022, will be listed for $26.7 million, the same price as the 350, the company has said.

The company did not disclose the name of the buyer.

by Sanjana Shivdas

Reuters

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This News Originally From – The Epoch Times

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