Recently it was announced that Bombardier Inc., Canada’s largest aerospace company, is hoping its new Global 7000 private jet will take the title as most coveted private aircraft, a title currently held by the Gulfstream G650.
Bombardier is focused on getting the new private jet to clients by the end of 2018, some two years after it had first hoped to debut the luxury private jet, which was delayed due to a wing redesign. Gulfstream debuted its G650 five years ago, and now Bombardier finds itself trying to catch up. Ultimately, it’s all about speed and comfort – traveling in luxurious surroundings.
Analyst for AltaCorp Capital Corporation, Chris Murray, said in an interview, the Global 7000 “is the entire ball game for Bombardier.” The aircraft could turn things around for Bombardier, if sales are brisk, which would help justify Bombardier’s investment of billions of dollars in the $73 million private jet, that not only claims to whiz passengers from one location to another in the blink of an eye, but also boasts a shower and bedroom. Murray said that, in order for the company to recover through its debut of the Global 7000, the aircraft must enter into service flawlessly.
The biggest selling point for the Global 7000 is said to be a spacious cabin that allows for napping, holding meetings, or other purposes, as it’s divided into four separate areas. Bombardier says the aircraft will offer the smoothest ride of all its competitors, and that top speed matches that of the fastest in the industry.
Warren Buffett’s NetJetsInc. has already ordered a number of the private jets, although the exact number wasn’t disclosed, according to Sales Chief at NetJets, Pat Gallagher.
Don’t expect Bombardier to take the crown without a fight from Gulfstream, however. The company’s President, Mark Burns, said that that he would not want to relinquish any control of the market he believes Gulfstream has built. Gulfstream’s G650 has helped make the private jet maker the most profitable in the industry, and Burns says the aircraft is “unmatched,” and that distance and speed sell. The G650, which sells for $69 million, is still setting speed records.
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