Executive Jet Division Soars at Embraer
Embraer released its second-quarter results this morning and the Brazilian OEM’s executive jets division showed a relatively healthy jump in deliveries from 13 in the first quarter to 20 in the second. The overall improvement in the company’s total second-quarter revenues, from $1.155 billion in the first quarter to $1.717 billion in the second, is no less attributable to the jump in airliner deliveries, from 21 in the first quarter to 35 in the second.
Net revenue from the executive jets division climbed from $151.9 million in the first quarter 2012 to $260.9 million in the second quarter. Embraer also added a total of $118.6 million in product development in the first and second quarter combined, mainly in support of the Legacy 450 and Legacy 500 business jet programs.
Highlights of the second quarter included the first international delivery of a U.S.-made (in Melbourne, Fla.) Phenom 100 and completion of a deal with Aviation Industry Corp. of China to create the Harbin Embraer Aircraft Industry that will build Legacy 650s in China for that market. The initial firm order for five Legacy 650s and options for five more in China will be added to Embraer’s third-quarter backlog numbers. Harbin Embraer has already begun production and expects to deliver these 10 airplanes next year.