The aviation wires are abuzz with news of the first orders for Bombardier’s CSeries, announced at the Farnborough International Air Show in England. Lufthansa snatched up 60 of the planes, which will serve short-haul flights across Europe when they enter service in 2013. In standard configuration, the CSeries will seat anywhere from 100 to 149 passengers and, thanks to an innovative geared turbofan engine and widespread use of composite materials, the plane looks to be at least 20 percent more efficient than other models in its class.

With the recent trend in business jets towards ever bigger models— witness Boeing’s success with its Boeing Business Jet and Airbus’ 300-series conversions— we wondered if Bombardier might be preparing a wide bodied private jet of their own with the CSeries. Might a few Russian oligarchs or Saudi sheiks be considering a CSeries to be their next globe-trotting mainstay?

Probably not any time soon, according to Danielle Boudrea, a spokesperson for Bombardier. The Canadian manufacturer is positioning the plane as an economical alternative for regional markets. With a range topping out at 3,222 miles for the C110 ER version of the plane, the CSeries will not have the intercontinental range to compete with most heavy business jets.

In the future, with modifications to increase its range, the CSeries could be well positioned to serve as a private jet. Until then, the plane looks to offer stiff competition in the commercial sector, as airlines increasingly shift their operations towards regional routes.