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June 17, 1997

Bombardier Confident About Business Jets

Paris (June 17, 1997) -- At last September's Farnborough Air Show, biz jet leaders Bombardier and Gulfstream duked it out for 12 rounds bare-knuckled in front of the world's aerospace community. At this year's Paris Air Show both combatants were somewhat muted, after seeing heavyweights Boeing and Airbus enter their weight class.

Still, riding strong sales figures for 1996, and with the successful launching of their new Global Express business jet, Bombardier insists they'll continue to be the market leader for years to come. The question is now how much of a market they'll have left to lead.

With a projected 50 percent increase in volume in the business jet market projected within the next two years, Bombardier figures to be the leading business jet supplier in a niche that now includes the world's two largest aircraft manufacturers. Michael Graff, president of Bombardier Business Aircraft, claims, "We will continue to grow and expand at a faster rate than the market." In reference to the unveiling of new business jets from both Boeing and Airbus, Graff admits, "I'd be foolish to say it doesn't concern us. Of course, we'd prefer if they weren't entering the market." But with aircraft that can fly faster, go farther and cost less than either of the two new major offerings, Bombardier believes its aircraft will still be in high demand.

Bombardier's newest offering, the Global Express, has already logged in excess of 60 orders, including a number of "take-away" orders from the Gulfstream V. Plans are already in place for an increase in production of the first model, and the 9003 will be returning to flight tests this month.

In other parts of Bombardiers business aircraft group, the company's Learjet 60 is currently the market share leader for its class, and certification for the Learjet 45 is expected this summer. Twenty-four deliveries are scheduled for the Learjet 45 between 1997 and 1998.

Representatives also renewed the company's commitment to fractional ownership, a concept Graff believes has increasing appeal in today's global markets. Bombardier has a total of 130 fractional ownership orders in the books and anticipates the total number of planes in operation for the fractional ownership program will reach 30 by the end of the year.

Bombardier claims leadership in the business jet market with a 26 percent share. Clearly, Bombardier will have to market aggressively to maintain the same share come Farnborough 1998.

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