(Reuters) -Bombardier Inc raised its full-year estimates for both revenue and business jet deliveries on Thursday, as it benefits from a rebound in demand for private jets after the pandemic sapped sales last year.
It expects to deliver 120 business jets in 2021, compared with its prior forecast of between 110 and 120 units. Bombardier expects full-year revenue to be more than $5.8 billion, up from its previous estimate of more than $5.6 billion.
Aircraft deliveries rose 45% to 29 units in the second quarter, reflecting strong demand for large-category jets.
Business jet revenue jumped 50% to $1.5 billion, fueled by increases in both aircraft deliveries and services, Bombardier said.
The company has said it expects improved revenue this year from sales of business aircraft in the United States, the world’s largest market for corporate jets.
Rivals Textron and General Dynamics Corp’s Gulfstream Aerospace have said they are raising production to meet the rebound in demand.
Montreal-based Bombardier posted an adjusted net loss of $137 million, or 6 cents per share, in the quarter ended June 30, compared with a loss of $248 million, or 11 cents, a year earlier.
(Reporting by Sanjana Shivdas in Bengaluru and Allison Lampert; Editing by Saumyadeb Chakrabarty)
