Bombardier has cancelled the Learjet 85 business jet program due to the lack of sales following the prolonged market weakness, the cash ...
Bombardier has cancelled the Learjet 85 business jet program due to the lack of sales following the prolonged market weakness, the cash starved Canadian plane maker announced on October 28.
Earlier, company has announced a pause for the program in January 2015.
As a result, a $1.2-billion charge was recorded in special items in the third quarter of fiscal year 2015, mainly related to the impairment of the remaining Learjet 85 development costs as well as to an increase in other provisions.
Under development since 2007, the jet missed a service entry target in 2013 and didn’t make its first flight until April 2014.
The Learjet 85 is the largest of the family, designed to fit between the midsize and the super midsize segments, and the first Bombardier business jet to use composite structure.
Learjet 85 is designed to seat 8 passenger and cruise at Mach 0.82 with a transcontinental range of approximately 5,556 km.
