Bombardier鈥檚 business is flourishing within narrower niche of business jets
A series of missteps led Bombardier to the brink of bankruptcy in 2015. The Government of Quebec bailed out the Montreal-based manufacturer, but its stock cratered as it restructured its business. Fast-forward to 2023, and the aerospace company is once again on the rise. The company foresees increased revenues due to robust demand for business jets and its stock price is up 50 per cent from a year ago. 鈥淭en years ago, Bombardier was Canada鈥檚 biggest and most global company,鈥� said Prof. Karl Moore in an interview with Financial Post. 鈥淚t is one of Canada鈥檚 great stories, but it flew too close to the sun when it entered into direct competition with aerospace behemoths like Airbus and Boeing.鈥� Now, the company is focused on business jets, and is flourishing within this more limited niche. It expects revenue to increase by 10 per cent this year, to $7.6 US billion.