Bombardier chairman and chief executive officer, Laurent Beaudoin, unveiled the company's all-new transcontinental business jet on the eve of the annual meeting and convention of the National Business Aviation Association (NBAA). The new aircraft, to be known as the Bombardier Continental Jet, will carry eight passengers and their baggage non-stop across North America at a speed of Mach 0.82 (541 mph), and will enter corporate service with customers in the year 2002.

Beaudoin said in a prepared statement, "This new aircraft will be Bombardier's product offering in the emerging and important super midsize business jet segment. It is also the third all-new business jet that Bombardier has introduced in just six years."

The company said it is now seeking commitments from prospective customers, heading towards for a formal program launch decision next spring. According to a Bombardier statement the program is currently in advanced design and will begin joint definition early in the first quarter of 1999. First flight is anticipated in the first quarter of 2001. Type certification is expected in mid-2002.

Bombardier forecasts more than 1,000 new-generation super midsize business aircraft by the year 2012, mostly for the U.S. market, and the company aims for a 30 per cent share of the total market.

Beaudoin made the announcement at the official unveiling ceremony of a full-size mock-up of the sleek aircraft. Joining him were Robert Brown, president and chief operating officer, Bombardier Aerospace, and Michael Graff, president, Bombardier Aerospace, Business Aircraft.

The company said its Bombardier Continental Jet is designed to meet the needs of operators in several segments. It is intended to provide a growth platform for light-jet operators, a replacement for aging midsized aircraft, a new offering for the rapidly growing fractional ownership market and an alternative for operators currently constrained by the performance capabilities of their current-generation midsize business jets.

Bombardier says it is designing the new aircraft in response to the critical requirements "deemed most important by business jet customers." It says those criteria are true transcontinental range; long-range cruise speed without sacrificing airfield performance; a true eight-passenger cabin; and operating costs either equivalent to or better than the current generation of midsize jets.

The company plans to partner with international risk-sharing participants to undertake the design and production of critical components and aircraft systems. The first of these companies is AlliedSignal Inc. of Phoenix, Ariz., which will supply the new AS907 powerplant for the new Bombardier aircraft.