Wednesday, November 28, 2007

Bombardier Targets "Emerging Markets"

Bombardier says a major portion of its business in coming years will come from Russia, China and India as well as South Africa and Brazil. In a ceremony to launch the Challenger 605 business jet in Mumbai, company spokesman Murray Sutherland said that market opportunities move with the changing fortunes of various parts of the world and global enterprises like Bombardier move with them. "The business is so international it makes us fairly immune to problems that are specific to some countries," he told Reuters. "But it would be foolish of us to disregard high oil prices or a possible downturn in the U.S. economy." At the same time, the Indian media was revelling in the attention from the world's third largest aircraft maker. The Hindustan Times noted that Indian business is expanding "at jet's speed" and that's what has attracted Bombardier towards Indian Aviation. It quoted Bombardier's South Asia managing director Nilesh Pattanayak as saying the market is ripe for the company's products. "India is an important market for us and we expect many orders from the billion dollar club. We equate the Indian market with other emerging markets of Russia, China and Brazil where business jets are in demand."

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