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Or sign-in if you have an account.At the end of March, Bombardier’s order backlog was US$20.3 billion, up 16 per cent from a year ago. Photo by BloombergA helicopter company backed by Saudi Arabia’s sovereign wealth fund will expand into the private jet industry with a commitment for as many as 60 Bombardier Inc. aircraft, betting on the country’s growth in tourism and business activity.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorBombardier and The Helicopter Company signed a letter of intent Tuesday at the Farnborough International Airshow in England for five Challenger 3500s, five Global 5500s and two Global 8000s.The deal could be worth about US$570 million at list price, although buyers tend to get large discounts for bulk purchases. The letter also includes options for 48 more aircraft.Breaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Posthaste will soon be in your inbox.We encountered an issue signing you up. Please try againAt the end of March, Bombardier’s order backlog was US$20.3 billion, up 16 per cent from a year ago. The Canadian manufacturer’s share price has gained about 50 per cent this year, rising on Tuesday to its highest point since 2002.Founded in 2018, THC provides helicopter services and is part of the Public Investment Fund’s strategy to support the aviation industry in the country.“The new business stream is designed to meet growing demand for private and general aviation, driven by Saudi Arabia’s expanding tourism sector, business activity, and emerging destinations,” the company said in a statement. “THC aims to become the region’s leading business aviation operator and the national carrier of choice in private charters and business aviation.”Vista Global Holding Ltd. ordered 40 Challenger 3500 aircraft in February, and KKR & Co.-backed private jet company Bond expanded in April its commitment for a new Bombardier fleet of more than 120 aircraft to US$5 billion from US$4 billion. 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