8/21/2009

Bombardier said Thursday it was terminating a potential $1.5 billion Learjet order after the customer, Jet Republic, declared insolvency. Jet Republic had placed orders for 25 Learjet 60 XR aircraft, with options for 85 more. Noting that "the order was among the largest single business jet orders Bombardier had ever recorded," an analyst with Versant Partners predicted "a further production rate cut" at the Learjet plant in Wichita, Kan. A Bombardier spokeswoman, however, disputed that outlook. "At this time, we have no plans to change production, so the Learjet 60 XR program continues as planned," she said.

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