CSeries on track as Bombardier boosts Q1 profits

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Bombardier Aerospace's earnings rose 53% year-on-year in the first quarter, and the Canadian airframer says tests of its developmental CSeries airliner "are progressing well with first flight next month".

Quarterly revenues climbed by more than a half, from $1.5 billion to $2.3 billion. Earnings before interest and tax totalled $101 million.

The airframer delivered 53 aircraft in the three months ending 31 March, compared with 37 in the same period of 2012. Commercial aircraft accounted for 13 of the handovers.

Gross orders of 40 for the quarter included four Q400 NextGen turboprops ordered by Danish lessor Nordic Aviation Capital. Three commercial aircraft were cancelled, and net orders came in at 28.

Bombardier's backlog at 31 March is valued at $32 billion. A first-quarter purchase agreement with Russia's Ilyushin Finance, covering 32 CS300s plus 10 options, pends shareholder approval, but its firm component would have a list-price value of $2.6 billion.