(Reuters) -Bombardier Inc and rival Textron Inc on Thursday reported growing backlogs for corporate aircraft as demand for private flights soars, but executives warned of supply chain headaches. Executives from both companies told analysts they see corporate aircraft activity picking up in Europe, adding to strong demand in the United States that is filling seats and boosting plane prices after orders slipped last year due to COVID-19. Cessna business jet maker Textron raised its full-year earnings per share and cash guidance, after General Dynamics Corp said on Wednesday its Gulfstream business jet backlog reached a six-year high.
Citadel's controversial founder is smiling — at least for now.
The refreshed jet, named Challenger 3500, was launched earlier this month as Bombardier vies to protect its dominant share of the market and capitalize on higher demand for private flying during the pandemic. Bombardier, which has focused on paying down debt after facing a cash crunch in 2015, is under constant pressure to upgrade its expensive business jets in a market where wealthy buyers demand the latest features. The Challenger 3500 seats up to 10 passengers and comes with voice-controlled cabin systems for a number of functions like lighting and multimedia.