Europe orders 110 Lear 60XR's
Bombardier Gets European Order for Up to 110 Learjets Bombardier Gets European Order for Up to 110 Learjets
By Hugo Miller
June 20 (Bloomberg) -- Bombardier Inc. said it received an order for as many as 110 Learjet 60 XR business aircraft worth $1.5 billion from an undisclosed European customer.
The buyer has placed a firm order for 25 jets valued at $340 million and has an option for another 85, Montreal-based Bombardier said in a statement today. Delivery of the aircraft is scheduled to begin next year.
The order will further boost Bombardier's shipments to Europe as a slowdown in the U.S. economy weakens demand in the world's largest business-jet market.
While the U.S. still has about six times as many Bombardier jets in use than Europe, about 70 percent of new orders come from outside the U.S. Europe, including Russia, accounts for almost half of that demand.
The company delivered 47 business aircraft to Europe and Russia last year and 49 in 2006, almost double the 27 sent in 2005, spokeswoman Danielle Boudreau said. Bombardier made 114 deliveries to U.S. clients last year, up from 94 in 2006 and 98 in 2005.
The Learjet 60 XR, introduced last year, seats up to eight passengers and has a range of 2,370 miles (3,814 kilometers).
Bombardier rose 17 cents, or 2.3 percent, to C$7.64 at 10:19 a.m. in Toronto Stock Exchange trading.