Bombardier swings to net loss despite revenue jump as private plane travel falls

Bombardier Inc. is reporting a revenue leap of 28 per cent in its latest quarter as the company says it remains on track for its business jet delivery targets, even as private plane activity slumps across the globe.

The plane maker says it incurred a net loss of US$37 million in the three months ended Sept. 30, down from a US$27 million profit in the same period a year earlier.

Revenues from the Montreal-based company, which reports in U.S. dollars, rose to US$1.86 billion in its third quarter from US$1.46 billion the year before.

Its adjusted net income also jumped to US$80 million or 73 cents per share from a loss of US$2 million or 10 cents per share.