Bombardier is continuing to make reductions in its staff numbers. A total of 3,000 employees will be laid off at the manufacturer’s facilities in Montreal, Toronto and Belfast over the next 12 months. Bombardier Aeropspace president Pierre Beaudoin said: “In view of challenging market conditions, we have a responsibility to take aggressive actions to continuously improve our competitive edge and align our production rate with market demand.”

Meanwhile, Textron has also confirmed that it will be revising its 2003 outlook for business jet deliveries at Cessna. Consequently the company will be reducing its 2003 earnings guidance. Textron ceo Lewis Campbell said: “The current economic and geopolitical situation has worsened and is affecting business jet demand much more severely than expected.”

Most significantly, one of Cessna’s largest customers recently informed the company of a significant reduction in the number of jets that it plans to purchase in 2003. Previously, Textron planned to deliver around 220 jets this year; the company now expects to ship between 180 and 195 jets.