New Corporate JetsCorporate Jets
Masluch said by telephone from Geneva in the run-up to the EBACE Virtual Aircraft Show that the new jets are to be certified in 2019 before they are delivered by the end of next year and will achieve a "premium price". Global 5500, which is listed for $46 million, has a cruising distance of 5,700 sea-mile and can link Sao Paolo and Paris, while Global 6500, which is listed for $56 million, has a cruising distance of 6,600 sea-mile and can link Hong Kong and London, Bombardier said.
Bombardier's bigger cabins are competing with General Dynamics Corp.'s Gulfstream, whose G650 commercial jets will maintain an unsurpassed flying distance at the upper end of the corporate jet-only market until the biggest ever Globals goes into operation this year. Whilst a strong second-hand fleet offer in recent years has led to a decline in the volume of new corporate jets produced, some analysts anticipate that corporate jets will increase between 2019-2027 in line with overall GNP output increase.
The proceeds from the 5500 and 6500 will be part of Bombardier's five-year turn-around program, which is strongly focused on delivering its flagship G7000 Blue Bird in order to increase overall corporate revenue to $20 billion by 2020 from 2017 to 25 per cent. Bombardier's corporate jets are set to generate revenue of $8.5 billion by 2020, up from $5 billion in 2017.
In 2015, Bombardier regarded the company's failure as insolvency after having to face a severe financial crisis due to the high cost of both the CSeries aircraft and the ultra-long-term Global 7000, to be re-named Global 7500.