Bombardier has unveiled a new business jet, to be positioned between the wide-body Challenger 604 and the ultra long-range Global Express.

The aircraft, dubbed the Global 5000, will have a maximum cruise speed of Mach 0.85, carrying eight passengers plus three crew. It will be able to fly non-stop from Europe to central North America. It is scheduled to be certified and enter corporate service in 2004, following first flight in 2003.

It will compete in the super-large jet segment which, according to industry forecasts cited by the Canadian manufacturer, will require some 750 aircraft by the year 2010. It says this is a US$25 billion market, and hopes to claim more than 30 per cent of the sector.

Bombardier, which is currently shedding jobs and is expected to cut 10 per cent of its workforce, has not decided whether the new project will prevent job losses, it said.

Bombardier introduced the aircraft on October 25 at its Montréal completion centre; the new business jet will be completed there, and built at Bombardier’s Toronto facilities. Officials said this will be Bombardier’s twelfth new aircraft in 12 years.

“The Global 5000 will become the new standard in intercontinental, high-speed travel," predicted Robert E Brown, president and ceo, Bombardier Inc.

"We are currently designing the Global 5000 to deliver great value in its class. It will offer one of the widest and most spacious cabins in its class and be able to take off from short runways," added Pierre Beaudoin, president and coo, Bombardier Aerospace.

“Operators will benefit from Bombardier's expertise in designing and building... regional aircraft, enjoying airliner reliability and maintainability, and competitive operating costs,” claimed the company in a statement.

The Global Express is the model for the Global 5000; it will use the same Rolls Royce engines and Bombardier literature is already talking about the new jet’s rich lineage.

The price tag will be around US$33 million. Bombardier, the world’s third largest civil aircraft manufacturer, has spent $80 million developing the Global 5000, stated Beaudoin.

One customer has signed up for the aircraft to date. According to analysts Bombardier normally accumulates 25-50 orders for a new jet model before committing to production.