(Reuters) -Canadian business jet maker Bombardier on Thursday reported an 11% rise in third-quarter revenue, helped by increased demand in its aftermarket services business and the delivery of four more
planes than a year ago.
Sustained demand for private flying is swelling the business jet makers' order books for new planes, while simultaneously driving sales of aircraft parts and repair services. Earlier this year, Bombardier said it would expand aftermarket care service in the United States to drive higher revenues and meet higher customer demand.
Montreal-based Bombardier is waiting for U.S. and European regulators to validate the company's flagship Global 8000 business jet, which was certified by Canada's transport regulator on Wednesday.
The plane, which lists for $83 million and is expected to be the fastest civilian plane since the Concorde, would compete with General Dynamics' Gulfstream Aerospace when it enters service this year.
Bombardier delivered 34 aircraft during the reported quarter, compared with 30 aircraft a year ago and reiterated a broader target of handing over above 150 planes to customers this year.
The planemaker posted quarterly revenue of $2.31 billion, compared with $2.07 billion a year ago, helped by a 12% rise in services revenue.
"Our service network is consistently full and expanding in the Middle East and the U.S.," CEO Eric Martel said in a statement.
On an adjusted basis, Bombardier earned $1.21 per share in for the quarter ended September 30, up from 74 cents a share a year earlier.
Despite trade tensions between Canada and the United States, the world's largest market for business jets, Bombardier has been able to export its planes south of the border as they comply with the USMCA trade agreement.
(Reporting by Allison Lampert in Montreal and Aatreyee Dasgupta in Bangalore; Editing by Shailesh Kuber)
