MONTREAL – Bombardier Inc. chief executive Éric Martel says Canada’s proposal to scrap the luxury tax will fan sales and job growth at the business jet maker.
Martel says the 10 per cent tax on its multimillion-dollar planes was stifling more than a half-dozen domestic sales per year.
The company projects the move to end the tax on pricey planes and boats — laid out in the federal budget this week — will create 600 new jobs at its Canadian facilities “in the coming years” to meet heightened demand.
On Thursday, Bombardier reported that net income for the three months ended Sept. 30 fell 55 per cent to US$53 million from the same period last year, a drop due partly to costs tied to its discontinued transportation segment.
The Montreal-based company says third-quarter revenue rose 11 per cent year-over-year to US$2.31 billion.
On an adjusted basis, it says earnings per share rose to US$1.21 from 74 cents, below analysts’ expectations of US$1.40 per share, according to financial markets firm LSEG Data & Analytics.
This report by The Canadian Press was first published Nov. 6, 2025.
Companies in this story: (TSX:BBD.B)
