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Bombardier, Textron business jet backlogs swell but supply chain headwinds loom

Bombardier Inc and rival Textron Inc on Thursday reported growing backlogs for corporate aircraft as demand for private flights soars, but executives warned of supply chain headaches.

Executives from both companies told analysts they see corporate aircraft activity picking up in Europe, adding to strong demand in the United States that is filling seats and boosting plane prices after orders slipped last year due to COVID-19.

Cessna business jet maker Textron raised its full-year earnings per share and cash guidance, after General Dynamics Corp said on Wednesday its Gulfstream business jet backlog reached a six-year high.

Corporate planemakers, eager to take advantage of strong demand, are taking steps to mitigate the impact of global supply chain disruptions, including supply and pricing of raw materials, logistics and labor shortages among smaller suppliers.