Bombardier Inc. expects to increase business-jet deliveries at least 11 percent next year, following the debut of its biggest luxury plane.

The Global 7500 will help boost total private-aircraft shipments to at least 150, Bombardier said in a statement Thursday. The new plane, capable of flying nonstop from New York to Dubai, is due to enter service this month with a list price of $73 million.

Bombardier is counting on the Global 7500 to grab market share from the General Dynamics Corp.’s Gulfstream G650 and generate as much as $3 billion of annual sales by the start of next decade. That’s a pillar of Bombardier’s plan to bet its future on business jets and trains while stepping back from commercial aircraft, as Chief Executive Officer Alain Bellemare pushes into the second half of a five-year turnaround plan.

The company “is once again poised to show solid operational growth on the back of its multiyear turnaround plan,” Stephen Trent, a Citigroup Inc. analyst, said Thursday in a note to clients. He recommends buying the stock.

Investor Pressure

Bellemare is under pressure from investors still reeling after Bombardier cut its cash-flow forecast last month. The Montreal-based company blamed the weaker outlook on working-capital needs at its train business after years in which heavy investments in aircraft programs including the Global 7500 gobbled up resources.

Bombardier’s Class B shares fell 5 percent to C$2.09 at 9:54 a.m. in Toronto amid a rout in global stock markets. Bombardier tumbled 27 percent this year through Wednesday, compared with a 3.9 percent advance of a Standard & Poor’s index of Canadian industrial companies.

Bellemare and other executives are scheduled to brief analysts and investors at 2 p.m. in New York about the company’s plans. Bombardier reaffirmed Thursday its month-old forecast for 2019 sales to climb about 10 percent to at least $18 billion. The manufacturer expects to break even on a cash-flow basis, plus or minus $250 million, including one-time items.

Bombardier also confirmed its 2020 financial objectives, which include revenue of at least $20 billion and free cash flow of $750 million to $1 billion. Investors and analysts focus on cash flow because of the company’s need to pay interest on its debt, which was about $9.5 billion on an adjusted basis on Sept. 30.

The company ceded control this year of the C Series to Airbus SE, which renamed the fledgling aircraft the A220. Bellemare is also selling Bombardier’s turboprop program and considering options for its regional jets, while looking to the rail and business-plane divisions for sales growth.