Skip to main content

Eric Martel, president and CEO of Bombardier Inc., unveils a mockup of its new Challenger 3500 business jet at a virtual event in Montreal, on Sept. 14.CHRISTINNE MUSCHI/Reuters

Bombardier Inc. has booked an order for 20 Challenger 3500 private jets from a customer it did not identify, an early sign that its decision to redesign that model was the right one.

The transaction is valued at US$534-million, based on the list price of the aircraft, the Montreal-based company said in a statement Thursday. Final prices can fluctuate up or down depending on discounts and customization requests.

Orders of that size are typically made by charter companies or fractional ownership providers.

News of the transaction comes just days after Bombardier unveiled plans for the Challenger 3500, an updated version of its popular Challenger 350. In addition to enhanced cabin features, the 3500 will be equipped with an autothrottle system, which allows for automatic thrust control, reducing the workload for pilots.

It is expected to enter service later next year after flight testing.

Bombardier, which sold its train unit and commercial aircraft operations to focus on private jets, is betting it can capitalize on surging industry demand after a decade of stagnation that has hit all manufacturers. The order is its largest this year.

Your time is valuable. Have the Top Business Headlines newsletter conveniently delivered to your inbox in the morning or evening. Sign up today.

Report an error

Editorial code of conduct

Tickers mentioned in this story