Bombardier launches latest Global 8000 ultra-long-range business jet By Reuters

© Reuters. FILE PHOTO: Bombardier’s logo and stock chart are seen in this illustration taken May 3, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) – Canada’s Bombardier (OTC:) Inc launched a new long-range business jet on Monday, as it seeks to remain competitive in a market that serves the ultra-rich and has remained robust amid the crisis. boom in COVID-19 demand for private aircraft.

The Montreal-based aircraft maker said the Global 8000 would become the world’s fastest business jet with an ultra-long range of 8,000 nautical miles (9,206 miles) and a top speed of Mach 0.94 ( 721 miles per hour).

The plane will enter service in 2025 and compete with high-end models offered by rivals General Dynamics (NYSE:) and France’s Dassault Aviation – the Gulfstream G700 and Falcon 10X, respectively. (https://reut.rs/3LAUBdx)

Bombardier said the Global 8000 will have a list price of $78 million, slightly higher than the $75 million for which its predecessor and the company’s flagship, the Global 7500, are quoted. The two rivals, the G700 and the Falcon 10X, are also priced at $75 million.

The Global 8000 jet, which is the same size as the 19-seat Global 7500, will be equipped with General Electric (NYSE:)’s Passport Engine, Bombardier added.

Bombardier’s announcement comes as business jet makers reported rising order books as the wealthy continued to fly privately during the pandemic.

Bombardier’s current Global 7500 is expected to be the largest contributor to its earnings before interest, taxes, depreciation and amortization (EBITDA) in the period to 2025.

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