Bombardier is pushing back the commercial debut of its Global 7000 business jet by two years, yet another setback for a planemaker that has seen debt balloon due to delays with the CSeries commercial program.

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Bombardier is pushing back the commercial debut of its Global 7000 business jet by two years, yet another setback for a planemaker that has seen debt balloon due to delays with the CSeries commercial program.

The shares plummeted the most among Canadian industrial stocks Thursday after Bombardier said the Global 7000 will enter service in the second half of 2018. As recently as last year, Bombardier promised a 2016 debut for the 7000, with the smaller 8000 following in 2017.

The postponement adds to the strain on Bombardier, already shaken by more than two years of cost overruns and sales struggles for the CSeries, the suspension of the Learjet 85 program and the reduction in output of the Global 5000 and 6000 corporate aircraft. The 7000 will be able to fly nonstop from London to Singapore and retail for $72.8 million.

“Creating an aircraft of this unique caliber is challenging,” the company said Thursday. “These challenges have impacted the program’s schedule.”

Bombardier said earlier this month that it was conducting a “full review” of the Global 7000 and 8000 program, including its schedule.

“The Global family of aircraft has been the standout for an otherwise troubled slate of new airframes,” Nicholas Heymann, an analyst at William Blair & Co. in New York, said in a note to clients earlier this month. “Any delay within the Global family would mean that Bombardier failed to meet initial entry into service dates on all three of its new programs.”

The shares dropped 9.7 percent Thursday on the Toronto Stock Exchange, to C$1.76. They have shed 57 percent this year.

Bombardier announced plans in May to cut about 1,750 business-aircraft jobs due to a slowdown in production of the Global 5000 and 6000 models.

Economic and geopolitical turbulence in some regions, such as China, Latin America and Russia have reduced orders, Bombardier said, contributing to the 5000 and 6000 production cut.

As a result of the “softness in demand,” Bombardier reduced its profit margin forecast in the unit to a range of 5 percent to 6 percent for this year, compared with a February forecast for 7 percent.

In an earlier note to clients, Sterne Agee CRT analyst Peter Arment projected that a delay probably would result in additional costs of “a few hundred million” dollars. While Arment estimates development costs of the Global 7000 and 8000 at $1 billion to $1.5 billion, Bombardier hasn’t provided a definitive figure.

Bombardier is targeting annual sales of $2 billion to $3 billion from the Global 7000 and 8000 programs over a five-year period following the aircraft’s entry into service, according to a March 2014 presentation to investors. The 7000 is able to accommodate 17 passengers versus 13 passengers in the Global 8000.

The Global announcement came as Bombardier reported second-quarter earnings, excluding some items, were 6 cents a share, beating the 5-cent average of analyst estimates compiled by Bloomberg. Revenue rose 2 percent excluding foreign exchange, to $4.6 billion, matching the $4.61 billion average estimate.

In the second quarter, Bombardier delivered 47 business aircraft, nine more than the same quarter a year earlier. Revenue in the unit increased 12 percent to $1.8 billion.