Bombardier Halts Learjet 85 program

[BlueNose]

Bombardier Halts Learjet 85 program

 

[ExecJetCA]

Bombardier laid off a large portion of their management and support employees in Montreal this past summer. The C-Series last hope was the Airshow last summer, and when it failed to meet the lowest expectations of projected orders, it has been costly. The Lear Jet lineage is suffering orders overall. The Aviation Division of Bombardier is causing huge losses. Their stock has dropped $1.10 today, currently trading at $3.10 a share (25% drop). Their 52 week high was only $4.55.

 

[gutshotdraw]

That sound you hear is a coffin nail being hammered....

 

[BlueNose]

That sound you hear is a coffin nail being hammered....

'The original Learjet 85 order for 30 firm aircraft and 75 options was an indicator of how important we felt this midsize aircraft was to our core market,' added Kenn Ricci, Principal, Directional Aviation Capital. 'After reviewing our long-term fleet strategy and listening to customer needs, we believe the Learjet 85 aircraft will be a distinct competitive advantage and an important contributor to our future growth. This investment confirms our belief the Learjet 85 aircraft will undoubtedly meet the needs of our owners for many years to come.'

Or not. Looks like KR is 0 for 2 on being the launch customer on a clean-sheet aircraft design. Remember this one? http://www.flightoptions.com/flight-options-orders-25-fairchild-aerospace-envoy-7-business-jets.html

 

[SDCFI]

I'm no fan of Kenn Ricci but Flexjet ordered the 85 way back when it was first announced around 2007. It was originally supposed to be on the property in 2013 I believe. Now he did double down on the order even though the project had already been significantly delayed, I can't help but wonder if that was part of the deal to sell FJ to generate cash and boost confidence in the aircraft. As they say on the interwebs: fail!

 

[Semore Butts]

The damn union!!!

Oh, wait, no, wrong thread!

Seriously though, I was excited about the Lear 85 having flown the Lear 60 at Flexjet.

I was thinking it would really be a terrific piece of equipment.

Take care, Semore

 

[shanes123]

Let's spin this. Got to be unions fault just like citation air. It's gotta be!!

 

[Downwind]

It's not a pretty Lear by any means.

 

[X-rated]

The 85 might have been a good plane, but it would not have contributed significantly to Bombardier's bottom line compared to the the C-Series and 7000/8000 programs. The problems and production delays in the C-Series have been a disaster for Bombardier. This cancellation has been predicted for a long time and is the right move. Limited resources must be deployed where they will have the biggest impact. They certainly can't afford a 7000/8000 delay.

 

[fischman]

Looks like Bombardier's largest customer didn't want competition...