Bombardier in Belfast posts $84.5m profit
BOMBARDIER AEROSPACE Belfast recorded pre-tax profits of $84.5 million last year according to its chairman despite “fluctuating world economies”.
In the company’s latest annual report Sir George Quigley said economic uncertainties had continued to pose challenges for the civil aviation industry last year. But he said that “Bombardier has a proven record of dealing effectively with challenges” and 2011 had proved to be no exception.
Latest financial figures for the 11 months period to last December – Bombardier changed its fiscal year end from January 31st – show the Belfast operation substantially grew its 2010 full year pre-tax profits of $41.4 million.
The Canadian aerospace giant employs more than 5,000 people in the North and supports thousands more jobs through supplier contracts locally.
The latest report shows that Bombardier Belfast’s revenues were $717.46 billion for the 11 months to December compared to revenues of $737.6 billion for the 12 months ending January 2010.
Sir George said the Northern Ireland division had won several new airline customers and had extended its repair expertise on key commercial aircraft to Bombardier Dallas facility which serves North American customers.
The chairman of Bombardier Belfast said that the validation of the facility’s pioneering resin transfer infusion process was also an important milestone for the Northern Ireland facility with regards to both the CSeries and Learjet 85 aircraft wing programmes.
“Construction of the second stage of our new wing manufacturing and assembly facility at Airport Road West was completed on schedule, and we look forward to the final phase being finished by the end of 2012,” Sir George added.
Production at the new facility is also due to begin towards the end of this year.
He said there had “encouraging support” for Bombardier’s new CSeries family of aircraft which now had a growing customer order book.