(Reuters) – Bombardier Inc on Thursday reported a substantially smaller quarterly adjusted loss, as robust demand for flying private boosted the business jet maker’s margins.
The Montreal-based company said its third-quarter loss narrowed to $2 million from $95 million a year earlier.
Corporate jet makers have been reporting swelling order backlogs on persistent strong demand for flying private, especially in the United States, the world’s largest market for business aviation.
Planemakers, however, face pressure from supply chain and labor disruptions as well as soaring inflation and broader concerns over a softening global economy.
Bombardier reported quarterly free cash flow of $52 million, compared with $100 million last year.
Revenue rose slightly to $1.46 billion from a year earlier. Analysts on average were expecting revenue of $1.6 billion, as per Refinitiv data. It was not immediately clear if the figures were comparable.
(Reporting By Allison Lampert in Montreal and Abhijith Ganapavaram in Bengaluru; Editing by Vinay Dwivedi)
