Embraer's Bizjets Selling Phenomenally Well
Embraer today revealed the firm order backlog and production schedule for its business jets–the Phenom 100 and 300, Legacy 600 and Lineage 1000. "As of June 30, our executive jet firm order backlog stands at $1.25 billion," noted Embraer chairman, president and CEO Maurício Botelho. The company has logged firm orders for more than 235 Phenom 100 very light jets and Phenom 300 light jets since the duo was launched about a year ago, he said. Deliveries of the Phenom 100 will start in mid-2008, while shipments of the light jet will begin in the second quarter of 2009, with the projected combined annual production rate expected to reach 120 to 150 aircraft. Embraer delivered nine Legacy 600s in the first half of this year compared with six in the same period last year and three in the first half of 2004. Last year, Embraer shipped 20 Legacy 600s versus 13 in 2004. It said it expects to deliver between 25 and 30 Legacy 600s annually this year and next. Embraer is currently planning on delivering up to two Lineage 1000s in 2008, its first production year, and three or four in 2009.