Embraer First Quarter Figures Reflect Economic Slump
Embraer announced its first-quarter numbers last week, showing that net sales for the manufacturer’s Embraer Executive Jets division were down from $173.6 million in the first quarter of last year to $70.2 million for the same period this year–a drop of 59.6 percent. The Brazilian OEM blamed the decline on “the severe worldwide economic downturn since September 2008.” Embraer also noted cancellations of some of the firm orders for its executive aviation backlog, “a few” of them Legacy 600s. There were no Phenom 100 cancellations, however. In the first quarter, Embraer Executive Jets delivered six Phenom 100s and two Legacy 600s, compared with deliveries in the first quarter last year of seven Legacy 600s. In the first quarter of 2008 the Phenom 100 was not yet in production. Perhaps more telling is the comparative total value of aircraft delivered in the two quarters–$192.15 million last year and $76.50 million this year.