Check out Bombardier's next generation $73 million Global 7000 private jet

Bombardier Global 700

On Monday, Bombardier confirmed that the first examples of its next generation Global 7000 private jet are undergoing final assembly at its factory near Toronto, Canada.

Thus far, the Montreal-based airplane maker says its three Global 7000 test planes have conducted over 500 hours worth of flight testing.

"The Global 7000 aircraft’s flight validation program is making steady headway because of the aircraft’s reliable and mature configuration while in parallel, solid progress of the testing on structural and systems rigs is supporting certification activities as per plan," Bombardier Vice President of product development and chief engineer, François Caza, said in a statement.

With two more test planes under construction, Bombardier says it's confident the Global 7000 will be able to complete its testing and certification program in time to enter service in the second half of 2018.

The long-delayed Global 7000, a victim of Bombardier's recent financial troubles, is expected to be one of the most capable and expensive private jets in the air with a price tag of $72.8 million.

Here's a closer look at the new Bombardier Global 7000: