Business jet manufacturing giant Bombardier Inc (OTCMKTS:BDRBF) emerged as one of the notable gainers yesterday and ended the day with gains of as much as 8%. On Thursday, the company stated that it is going to bring in higher revenues in 2021 and on top of that the use of cash is also going to be reduced.
It goes without saying that the projection from Bombardier was a highly positive one and it is no surprise that the stock went on a strong rally yesterday. Bombardier, like many other companies in the aviation business, has been hit hard by the travels bans that had been brought about by the coronavirus pandemic.
However, the company announced that the rebound in the number of business flights and that of the demand for aircrafts are two of the factors behind the projections.
While there is going to be an improvement in performance, the Eric Martel, the Chief Executive Officer of the company did state that due to considerable supply chain issues Bombardier is not going to be able to meet the target of delivering 120 business jets this year. Supply chain issues have been a recurring problem in recent times across the worldwide aerospace industry.
