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Bombardier Inc. reports developments tied to its business-jet portfolio, aircraft services, financial performance, capital structure and shareholder governance. Company news commonly covers the Global and Challenger families, including the Global 8000, Global 6500 and Challenger 3500, as well as aircraft displays, customer outreach and product-positioning updates in key business aviation markets.
Bombardier also issues updates on operating results, backlog, services activity, free cash flow guidance, debt redemptions, senior note financing and annual shareholder voting matters. Its disclosures describe a manufacturer and service provider that designs, builds, modifies and maintains aircraft for private, corporate, government and military customers, with production and completion facilities in North America and a global service network.
Bombardier announced significant changes to its international sales leadership on January 24, 2022, to enhance the sales experience and capitalize on the strong demand for its business jets. Following the departure of Vice President Christophe Degoumois, several team members will take on expanded roles. Emmanuel Bornand will lead sales in Europe, while Stéphane Leroy will oversee sales in Asia Pacific and China. Michael Anckner will manage sales in Latin America in addition to his current responsibilities. These strategic adjustments aim to strengthen client relations and boost sales growth.
Bombardier delivered the 1,000th Global aircraft, marking a significant milestone for the company. The first Global 7500 business jet was handed over to NetJets, which has ordered a total of 20 of these aircraft. The Global 7500 features a 7,700 nm range, allowing for long-distance travel without refueling. This aircraft is designed to enhance NetJets' large-cabin offerings, featuring advanced technology and unique cabin designs. Furthermore, it supports environmental sustainability with its verified Environmental Product Declaration.
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Nick W. Verdea, a Certified Aviation Manager, has received the 2021 Bombardier Safety Standdown Award for his dedication to aviation safety. Verdea was honored during the 25th annual Bombardier Safety Standdown event in Wichita, KS, held on November 3, 2021. With over 25 years of experience, he leads a team at The Williams Company and boasts over 13,000 accident-free flying hours. The award celebrates individuals who embody the principles of Learn, Apply, Share in enhancing aviation safety, and Verdea's commitment to safety excellence reinforces this mission.
Bombardier's annual Safety Standdown, a key aviation safety event, celebrates its 25th anniversary. Chris Milligan has been appointed as the new leader following Andy Nureddin's planned retirement. Milligan aims to uphold the event's reputation for excellence and expand lifelong learning opportunities in aviation safety. The initiative, created in 1996, promotes higher standards of safety and professionalism across the industry. Since its inception, over 10,000 aviation professionals have participated in Safety Standdown seminars worldwide, which remain free to all attendees.
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Bombardier reported third-quarter revenues of $1.4 billion, up 17% year-over-year, driven by improved delivery mix and a strong aftermarket recovery. Adjusted EBITDA was $142 million with a margin of 9.8%, a 69% increase from last year. Free cash flow amounted to $100 million, improving by $747 million year-over-year. The company's backlog rose to $11.2 billion, aided by a healthy 1.7 book-to-bill ratio. Importantly, Bombardier achieved a $3 billion debt reduction since 2021, enhancing liquidity to $1.9 billion. The new Challenger 3500 jet has received a positive market reception.
Bombardier will announce its financial results for Q3 2021 on October 28, 2021, at 8:00 a.m. EST. The company plans to host a webcast/conference call to discuss these results intended for investors and financial analysts. Stakeholders can access the live webcast at ir.bombardier.com. Additionally, they can join the call via telephone using specific conference call numbers provided for both English and French listeners. A replay of the call will be available shortly after the livestream ends.
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Bombardier and Signature Flight Support have signed a significant Memorandum of Understanding (MoU) aimed at enhancing customer service in private aviation. This collaboration will see Signature as the preferred concierge service provider at Bombardier service centers across the U.S. and Europe, initially launched in five U.S. cities. The MoU also includes joint efforts to promote Sustainable Aviation Fuel (SAF) and improve service capabilities through Bombardier's Mobile Response Team. This strategic partnership is positioned to redefine industry standards and support environmental sustainability.