Return of rich air passengers, increase in Bombardier’s profits

Web Desk. Bombardier, a Canadian business aircraft maker, said on Thursday that its quarterly profit rose 43 percent.

According to the British news agency Reuters, this has revived the aviation business as the increase in Corona vaccinations has encouraged wealthy travelers to travel again.

In January, the company sold its transportation business to Alstom to pay off debts and increase its profits, after which it emerged as a pure business aircraft manufacturer.

The corporate aircraft maker announced its preliminary results last Monday in response to a bondholder’s claim that it had recently sold its unusable assets in violation of certain conditions.

Bombardier’s revenue for the first quarter ended March 31 reached $123 million, up from $86 million last year. Its supply of the popular Global 7,500 aircraft has grown to eight in the quarter from six last year.

The company says it is on track to supply between 110 and 120 commercial aircraft by 2021. Bombardier’s full-year shipments fell by 20% in 2020 to 114 jets. Honda announces to make all its vehicles electric

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