Bombardier Inc. (TSX:BBD.B) has a short list of places where it could add Business jet output. These are a new Montreal completion Facility due at the end of 2027, the wing operations it is buying from MHI Canada Aerospace in Mississauga, Ontario, a US$270 million first phase of U.S. infrastructure Investment and, possibly, the Belfast aerostructures plant it sold in 2020. Chief executive Éric Martel told analysts on November 5, 2026, that the company is giving "strong consideration" to higher production rates and that some future Capital spending "could include a new airplane." No decision on either has been announced, but the focus has shifted to how, and where, the jet maker might grow.

What Bombardier Said About Production Rates and a New Jet

Martel said about half of Bombardier's capital spending would go to product improvement and to staying competitive, which "could include a new airplane." Whether that happens will depend on what competitors do, on customer Demand and on new technology. Bombardier currently sells the Challenger family of super mid-size and large-cabin jets and four long-range and ultra-long-range Global models, led by the Global 8000.

On rates, Martel told the Q3 call there is "strong consideration" of an increase. The Challenger 3500 is the clearest candidate. Martel described its Backlog as stretching "years and years." He also said supplier capacity will largely set how fast output can rise.

Where the New Capacity Could Come From

Several of the pieces are already in motion. A new Montreal facility, scheduled for completion at the end of 2027, will mainly handle interior completion for the Global 5500 and Global 6500. This would free up space for Challenger 3500 output.

Bombardier also plans to acquire the Mississauga operations of MHI Canada Aerospace, with closing expected by year-end. That would bring wing production for the Challenger 3500, Global 5500 and Global 6500 in-house.

In the U.S., Bombardier confirmed on October 23, 2026, a US$270 million first phase of infrastructure investment and 800 hires across Kansas, Texas, Indiana and Connecticut. The announcement came after U.S. President Donald Trump had threatened in September to block Bombardier jet sales in the United States unless the aircraft were built there, a threat he appeared to step back from in October.

The least certain option is Belfast. Martel is in talks with Boeing about the future of the Northern Ireland plant. Bombardier sold its aerostructures business, including Belfast, to Spirit AeroSystems in 2020. Boeing acquired Spirit in December 2025, and the remaining Belfast operation, now called Short Brothers, still makes parts for Bombardier aircraft. Martel stopped short of saying Bombardier intends to buy the plant, saying instead that it needs investment and attention to improve performance. Belfast recorded a 2025 net loss of US$1.16 billion.

How the Third-Quarter Numbers Support the Discussion

Bombardier reports in U.S. dollars. For the quarter ended September 30, 2026, Revenue rose three per cent to about US$2.37 billion and services revenue reached a record US$701 million, up 19 per cent and equal to about 29 per cent of the total. EBIT rose 17 per cent to US$266 million and adjusted EBITDA rose seven per cent to US$382 million. Adjusted Earnings Per Share were US$1.72, compared with US$1.21 a year earlier.

Deliveries were 33 aircraft in the quarter and 89 over nine months, four fewer than a year earlier. The unit book-to-bill ratio was 1.7 in the quarter, and backlog reached US$22.2 billion, up 34 per cent from a year earlier. Bombardier raised its 2026 free Cash Flow guidance to more than US$1.3 billion from about US$1 billion, reaffirmed its revenue and adjusted earnings outlook, and still expects to deliver more than the 157 aircraft it delivered in 2025.

A long backlog with flat deliveries is the main reason extra capacity is being discussed. Martel noted: "Everybody's ramping up. Everybody has a big backlog."

What Could Limit an Expansion

The constraints are clear. A clean-sheet or derivative aircraft program would add development cost and execution risk at a time when Bombardier has spent several years paying down debt. More production also depends on suppliers that, by management's own account, still need daily attention. Belfast is a loss-making operation with a large workforce, and any deal involving it would bring integration and labour issues.

Demand is the other variable. Martel said demand is strong in North America, Europe and Asia but weaker in the Middle East, which he linked to the Iran war. Business jet orders also tend to follow Wealth creation and corporate profits, so a downturn could slow bookings just as new capacity comes on line. Trade risk has eased, in his view, but the U.S. sales threat showed how quickly it can return.

On capital returns, National Bank analyst Cameron Doerksen expects more in 2027. Spending on capacity and on returns to shareholders will compete for the same cash.

What Investors Will Watch on the TSX

Bombardier trades on the Toronto Stock Exchange as BBD.B (subordinate voting shares) and BBD.A (multiple voting shares). The next scheduled checkpoint is annual 2026 results, listed for February 11, 2027, where the company would typically update guidance. Investors will look for any formal rate decision on the Challenger 3500, the closing of the MHI Canada Aerospace transaction, details of the U.S. investment phases, and whether the Boeing talks on Belfast lead to anything concrete.

Conclusion

Bombardier's Q3 call answered where extra jet capacity could come from: Montreal completions, in-house wings from Mississauga, U.S. sites and possibly Belfast. Higher Challenger 3500 rates and a new aircraft remain under consideration. A US$22.2 billion backlog and raised free cash flow guidance give the company room to choose. How it divides cash between growth, new products and Shareholder returns, and how well suppliers keep up, will decide whether the backlog turns into faster deliveries.