Embraer Goes Full Throttle into Bizav
During an investor conference yesterday, Embraer senior v-p of executive jets Luis Carlos Affonso predicted that his company is positioned to benefit from the expected growth in the business aviation market. Last year 749 business jets were delivered, he said, and by 2015 that number is forecast to be 1,100, about one-quarter of which will be very light jets. Affonso believes Embraer’s VLJ, the Phenom 100, will replace turboprops such as the Raytheon Beech King Air C90GT, given that the two aircraft have similar-size cabins but the VLJ cruises more than 100 knots faster and costs about $200,000 less. The next available Phenom 100 delivery slot is in May 2010, and Embraer is looking into increasing production in 2009 and 2010 to meet demand. Embraer’s Phenom 300, a light jet derivative of the VLJ, hasn’t logged as many sales “because this [segment] is already a mature market.” Affonso said the Brazilian manufacturer is considering a bizliner version of the Embraer 170 or 190, as well as a dedicated platform for a large, long-range bizjet.