• Most Popular
  • Most Shared

RPT-Bombardier expects jet demand from emerging markets

Tue Nov 27, 2007 5:14am EST

Stocks

   

(Repeats to remove extraneous text after sign-off)

MUMBAI, Nov 27 (Reuters) - Bombardier (BBDb.TO), the world's third-largest maker of civil aircraft, expects greater demand for its business jets from markets such as Russia, China and India, a senior company official said on Tuesday.

The overall market for business jets was strong, with steady growth in western Europe, said Murray Sutherland, a regional marketing executive for business aircraft at Bombardier.

"And we are seeing a significant rise in orders from eastern Europe, Russia and South Africa, besides China and India," he said at a news conference to launch the Challenger 605 jet.

The Canadian firm gets about 60 percent of its revenue from international markets outside the United States.

Bombardier, also the world's top train maker, has an engineering centre in Hyderabad in southern India, and is also looking at mass transit projects and sourcing components.

Bombardier's aerospace unit, which manufactures Learjets, CRJ regional jets that seat up to 145 passengers, and turboprop aircraft, has not yet seen demand hurt by a credit crunch in financial markets or record oil prices, Sutherland said.

"The business is so international it makes us fairly immune to problems that are specific to some countries," he said.

"But it would be foolish of us to disregard high oil prices or a possible downturn in the U.S. economy."

Bombardier received a net 186 orders in the first half of its fiscal year, compared to 100 in the same period last year, he said.

Bombardier is scheduled to report third-quarter results on Wednesday. It posted a loss in the second quarter to July 31 after it booked a big write-off on the value of its investment in Metronet Rail BCV Ltd. (Reporting by Rina Chandran; Editing by John Mair)



More from Reuters

Joint Terminal Attack Controller SSgt Clinton J. Herbison, a U.S. Airman from the 817 Expeditionary Air Support Operations Squadron (EASOS) takes a break during a night mission near Honaker Miracle camp at the Pesh valley of Kunar Province August 12, 2009. Credit: REUTERS/Carlos Barria

Pictures of the Year

A look at the best photos of 2009.  Slideshow 

    The Dalai Lama jokes with a nasal spray after being asked his opinion on the swine flu during a press conference after his first lecture in Lausanne, Switzerland, August 4, 2009. REUTERS/ Valentin Flauraud

    What a wacky year it's been...

    Um, what's up the Dalai Lama's nose? "Oddly Enough" editor Bob Basler rounds up the goofiest photos of the year.  Full Article 

    A caution sign is seen next to a stock board at the Australian Securities Exchange (ASX) in Sydney September 5, 2008. REUTERS/Daniel Munoz
    Political Risk in 2010:

    Don't say we didn't warn you

    With the financial crisis (mostly) in the past, U.S. investors are eying a fresh start to the coming year. Here's a look at what speedbumps lie ahead.  Full Article