(The Canadian Press) MONTREAL _ A surge in business aircraft shipments helped Gulfstream to overtake Bombardier Inc. (TSX: T.BBD.B, Stock Forum) as the world's leading business jet manufacturer in terms of value in the second quarter, according to the General Aviation Manufacturers Association.
The U.S.-based manufacturer shipped 36 aircraft worth US$1.83 billion in the quarter, compared to 45 planes valued at US$1.59 billion for Bombardier. Halfway through the year, the value of Gulfstream's aircraft shipments was 7.5 per cent greater than its Canadian rival.
Bomardier shares closed Friday at $4.88, leaving the company with a market cap of $7 billion, based on 1.4 billion shares outstanding. The 52-week range is $5.18 and $2.97.