Nov 7 (Reuters) - Bombardier's third-quarter
revenue beat analysts' estimates on Thursday, helped by strong
demand for business jet parts and repairs.
Business jet makers are increasing their order backlogs as
they benefit from a wave of interest from wealthy travellers
that has continued since the COVID-19 pandemic.
Despite an 18-day strike in July at one of its Canadian
facilities, Bombardier delivered 30 jets during the third
quarter ending September, compared with 31 aircraft a year
earlier.
The Challenger jet maker reported cash burn, a metric
closely watched by investors, of $127 million during the
quarter, compared with a positive cash flow of $80 million in
the same period last year.
Bombardier maintained its full year forecast for jet
deliveries of 150 to 155 aircraft.
Revenue from the company's services business rose 28% in the
third quarter to $528 million.
Montreal-based Bombardier's total revenue for the quarter
was $2.07 billion, compared with the average analyst estimate of
$1.79 billion, according to data compiled by LSEG.
On an adjusted basis, the company earned 74 cents per share,
compared with estimates of 73 cents.