Bombardier permanently cans LearJet 85
Bombardier has permanently cancelled its LearJet 85 program. The Canadian manufacturer made the announcement during its third quarter 2015 investor relations call.
The company said earlier in 2015 that it was ‘pausing’ the program due to weak market conditions.
During the quarter the manufacturer recorded a $1.2 billion charge, which the company says is mainly due to writing off the remaining LearJet 85 development costs.
“Subsequent to the end of the third quarter, on October 28, 2015, due to the lack of sales following the
prolonged market weakness, we cancelled the Learjet 85 aircraft program”. said the company in its Q3 2015 report.
Following the removal of 11 LearJet 85 orders during the first half of the year, Bombardier has now cancelled the remaining 64 orders for the aircraft.
Excluding the LearJet 85 cancellations, the company’s book-to-bill ratio now stands at 0.7, up from 0.5 at the same point last year.
The company says that it remains commited to the LearJet family, which includes the LearJet 70 and LearJet 75.
Bombardier delivered seven LearJet 70 / 75s during the third quarter of 2015.