October 19, 2010 / 4:45 PM / 7 years ago

New Bombardier jets to cost over $1 bln to develop

* Executive tells delegates at Atlanta convention

* No comment on order book for new business jets

* Stock dips 3 Canadian cents to C$5.03 (In U.S. dollars unless noted)

VANCOUVER, Oct 19 (Reuters) - Bombardier Inc’s (BBDb.TO) development costs for two new large-cabin business jets will be more than $1 billion, a spokeswoman for the aircraft maker said on Tuesday.

Danielle Boudreau said she was quoting Bombardier Aerospace Chief Executive Guy Hachey, who made these comments to financial analysts and investors at an industry convention in Atlanta on Tuesday.

Bombardier, the world’s third biggest civil aircraft maker, outlined details this past weekend of two new jets it will launch to expand its product line of large-cabin business aircraft. [nN16242951]

The new Global 7000 and 8000 aircraft build on Bombardier’s existing line of jets and are aimed at competing against Gulfstream’s new flagship G650, which is made by a unit of General Dynamics Corp (GD.N).

Hachey did not comment on Bombardier’s order book for the two jets, Boudreau said.

Bombardier’s stock was down 3 Canadian cents at C$5.03 on the Toronto Stock Exchange on Tuesday afternoon.

$1=$1.03 Canadian Reporting by Nicole Mordant; editing by Rob Wilson

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