Aircraft
Backlogs shrinking at the major OEMs
Six months ago, business aircraft manufacturers were publicly confident that their backlog of new aircraft orders stretching well into the next decade woul

Six months ago, business aircraft manufacturers were publicly confident that their backlog of new aircraft orders stretching well into the next decade would provide a buffer to ease the industry through what was already flagged as an economic crisis. Today, cancellations and delivery deferrals are eating into those backlogs, and the OEMs are making adjustments that were only being hinted at two months ago.

In the fall of last year, even with a U.S. economy feeling serious pain, life was good. Or that was at least the image OEMs were presenting. Airbus was selling executive aircraft for delivery as far out
as 2017 and competitor Boeing Business Jets was selling executive 787s into 2020. Bombardier’s backlog was valued at more than $26 billion, and Cessna’s backlog for more than 1,500 airplanes was valued at $15 billion. Dassault had a 500-aircraft backlog valued at about $12.5 billion, and Gulfstream’s backlog stood to bring in some $22 billion.