Embraer ’07 Results Show Record Deliveries

 - March 27, 2008, 12:31 PM

Brazilian aircraft manufacturer Embraer ended calendar year 2007 with a record 169 deliveries and a record backlog of firm orders valued at $18.8 billion. The numbers reflected activity in all aircraft segments, including its Executive Jet division. According to Embraer president and CEO Frederico Fleury Curado, who succeeded Mauricio Botelho at the post in April 2007, the São Jose dos Campos-based company realized $5.245 billion in revenue, a substantial increase over the $3.759 billion in 2006. The year-end numbers came despite a slow first quarter with just 61 deliveries as Embraer focused on “gathering resources” to accelerate production. Those resources included the hiring of an additional 4,500 employees in the first half of the year, “most of them in Brazil,” bringing the total Embraer workforce worldwide to nearly 24,000. Curado said the company is “comfortable” with the backlog and reaffirmed expectations that Embraer will deliver between 195 and 200 aircraft this year. As for a faltering U.S. economy affecting business aircraft orders, he said there have been no cancellations so far.