(Reuters) -Canadian business jet maker Bombardier Inc reported an adjusted quarterly profit on Thursday, helped by higher aircraft margins and cost reduction efforts.
Bombardier’s business jet revenue decreased 24% to $1.87 billion on fewer deliveries of aircraft.
However, Bombardier expects revenues to rise more than $6.5 billion in 2022 as higher-priced corporate planes account for a larger part of deliveries.
The Montreal-based company posted an adjusted net income of $80 million, or 3 cents per share, for the quarter ended Dec. 31, compared with a loss of 475 million, or 20 cents per share, a year earlier.
In 2021, Bombardier generated a cash flow of $100 million from continuing operations, a metric watched closely by investors. It expects free cash flow to be greater than $50 million in 2022.
Separately, the company said it would host its investor day virtually on Feb. 24.
(Reporting by Aishwarya Nair in Bengaluru and Allison Lampert; Editing by Amy Caren Daniel)