April 30 (Reuters) – The CEO of business jet maker Bombardier sees a benefit in Honeywell spinning off its aerospace division as a separate company, and added that the U.S. supplier of engines and avionics has improved its performance over the last year.
“This is a decision they’ve made, but I always like a company being more focused,” CEO Eric Martel told reporters on Thursday after the planemaker reported quarterly earnings.
“We look at this as being very positive.”
Planemakers and large aerospace suppliers are seeing improvement in the aerospace supply chain, but snags remain due to shortages of materials and labor. The health of the supply chain is being closely watched, with commercial planemakers Boeing and Airbus, along with defense industries, ramping up production at the same time.
Honeywell Aerospace, set to spin off on June 29 as a separate company under CEO Jim Currier, had wrestled with supply chain challenges earlier this year that affected key products including engines.
Honeywell is breaking up into three independent companies focused on automation, aerospace and advanced materials, and is divesting assets ahead of the separation.
(Reporting By Allison Lampert in MontrealEditing by Nick Zieminski)
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