Embraer on Track to Meet 2014 Bizjet Delivery Goal

AINalerts » July 31, 2014
July 31, 2014, 6:00 PM

Embraer remains on target for its annual delivery forecast, according to the Brazilian airframer. Speaking during a second-quarter earnings call this morning, CFO José Filippo said the company still expects to meet its goal of delivering between 105 and 120 executive jets for the year. He noted the manufacturer delivered 49 business jets (39 Phenoms, eight Legacy 600/650s and two Lineage 1000s) in the first half, 29 of them in the second quarter.

Overall company revenues in the quarter totaled approximately $1.761 billion, a growth of more than 13 percent from a year ago. Revenues from its executive jet division, which totaled $420.6 million in the second quarter, accounted for 22.9 percent of that amount.

Embraer apparently will miss its expected July certification of the Legacy 500 by mere days, according to company CEO Fred Curado, who noted that the paperwork is still with the Brazilian authorities. The OEM expects to build six midsize Legacy 500s this year, he added.

Curado also noted that while he sees continuing growth in the U.S. bizjet market, there is some softening in the emerging markets, particularly in China and Brazil, which he believes is only a temporary situation.

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