Inaugural flight of Bombardier's CSeries

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Inaugural flight Bombardier's CSeries

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Bombardier Inc's CSeries jetliner successfully completed its first flight on Monday, a key step in a $3.4 billion program to develop the first all-new narrow-body plane of its size in decades that the company hopes will increase sales. But the new jet still faces an ambitious, 12-month deadline to start carrying commercial passengers, and tough sales competition from bigger rivals Airbus and Boeing Co.

Bombardier Commercial Aircraft President Michele Arcamone told a press conference on Monday the development cost had climbed to $3.9 billion, but he later sought to backtrack on that figure, telling reporters the company had always targeted costs at "less than $4 billion" and saying that $3.4 billion remained the official estimate.

Reporting by Solarina Ho, REUTERS.

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