Embraer Second Quarter Deliveries and Orders Up
Embraer released its second-quarter 2011 results in late July, and while the Brazilian OEM recognized an executive jet market that is “showing early stages of recovery” and announced “important sales in recent months,” delivery numbers left something to be desired. Overall, including its commercial aircraft division, Embraer had good news, with second-quarter net revenue of $1.358 billion compared with $1.35 billion for that period in 2010. The company reported delivery of 23 aircraft for the quarter, eight more than in the first quarter. Less encouraging, however, is a comparison with the second quarter of 2010, when Embraer Executive Jets delivered 40 business jets. With the business jet market in general looking up, Embraer’s executive aircraft orders took a jump in the second quarter. At Ebace in May, Comlux The Aviation Group of Zurich signed a contract for three Legacy 650s. In July, Minsheng Financial Leasing signed a memorandum of understanding to purchase a mix of up to 20 Embraer business jets. Embraer expects the MoU to be fully converted to firm orders in up to five years, with deliveries beginning as early as this year.