Bombardier Adjusts Business Jet Forecast

Just how bad is the future for the business jet industry? One of the industry giants, Bombardier has amended its 10-year industry forecast dropping the amount of jets it says will be produced. The aircraft manufacturer now says that around 11,500 business jets will be delivered between 2009 and 2018 with revenue of around $256 billion for the industry. This represents a 15 percent drop from last year's predictions. The company believes that the eventual return of global economic growth will also result in a strong recovery in the demand for business jets. The forecast for commercial aircraft in the 20- to 149-seat range calls for 12,400 new aircraft deliveries in the 20-year period from 2009 to 2028, a slight downturn from last year's prediction.

Bombardier has announced 4,360 employees will be laid off in Canada, the United States and Northern Ireland. The AP also reports that Cessna has announced more layoffs. This means that Cessna, a major maker of small planes, has laid off 44 percent of its work force since the first job cuts in November.