Bombardier delays new business jet

New York

BOMBARDIER Inc is pushing back the commercial debut of its Global 7000 business jet by two years - yet another setback for a planemaker that's consuming cash at a record rate as it focuses on development of its CSeries commercial plane programme.

Its shares plummeted the most among Canadian industrial stocks on Thursday after Bombardier said the Global 7000 will enter service in the second half of 2018. As recently as last year, Bombardier promised a 2016 debut for the 7000, with the smaller 8000 following in 2017.