Bombardier Inc. is a Canadian aerospace manufacturer which produces business jets.[2] Headquartered in Montreal, the company was founded in 1942 in Valcourt by Joseph-Armand Bombardier to market his snowmobiles, and it later became one of the world's biggest producers of aircraft and trains.[3]
During the 1970s and 1980s, the company diversified into public transport vehicles and commercial jets, and it became a multinational corporation. Bombardier grew particularly fast at the end of the 1980s, when the turnover multiplied sixfold within six years. At that time, it was North America's most important producer of railway vehicles, Canada's most important aerospace manufacturer and the worldwide leading snowmobile maker. The growth came mainly from buying failing government-owned companies at a low price and orchestrating a turnaround.[3]
However, the launch of the CSeries aircraft sent Bombardier into deep debt, pushing it to the brink of bankruptcy by 2015. As a result, the company sold nearly all of its operations except business jet manufacturing.
Bombardier manufactures two families of corporate jets, the Global series and the Challenger series. On May 18, 2021, the Global 7500/8000 series during testing became the first business jet to break the sound barrier and the fastest civil aircraft since the Concorde.[4] With deliveries of 138 business jets in 2023, Bombardier was the number one manufacturer of business jets in the world.[5]
Corporate affairs
The key trends of Bombardier are (as at the financial year ending December 31):
Divested lines of business
Commercial aviation
In 1986, Bombardier acquired Canadair for C$120 million from the Government of Canada after it recorded the largest corporate loss in Canadian history.[11]
In 1989, the company acquired Short Brothers.[12]
By 1990, the first product of the company, the Ski-Doo snowmobile, had become its weakest part gaging up deficits and high inventories.[3]
In 1990, it acquired Learjet. In 1992, the company acquired de Havilland Canada from Boeing
Further reading
- Hadekel, Peter. Silent Partners: Taxpayers and the Bankrolling of Bombardier. Toronto: Key Porter Books Limited, 2004. ISBN 978-1-5526-3626-8.
- MacDonald, Larry.The Bombardier Story: Planes, Trains and Snowmobiles. Toronto: J. Wiley & Sons, 2001. ISBN 978-0-4708-3196-0.
External links
- Bombardier Inc. Corporate Reports – McGill University Library & Archives
References
- Bombardier Exceeds All 2025 Guidance Metrics, Successfully Completes its Turnaround Plan, and Sets 2026 Guidance for Strong Year Ahead Bombardier, 2026-02-12^
- Bombardier archive.wikiwix.com, retrieved 2023-03-29^
- Clyde H. Farnsworth. Company News; Bombardier Returns to Earth