JPMorgan downgraded Embraer yesterday from overweight to neutral, in large part due to concerns about Embraer’s airliner business. However, the investment firm noted that “continued weakness” in flight operations and other indicators “are leading us to dial back our business jet delivery forecast,” but it still predicts healthy growth in this segment.
Embraer started Phenom 300 production at its Melbourne, Fla. facility this week, the Brazilian manufacturer announced today. Phenom 100s have been assembled at the Florida plant since early last year, with 14 of the U.S.-built light jets delivered to U.S., Canadian and Mexican customers to date.
The Embraer Phenom 100 light jet recently received type certificate validation by the Civil Aviation Administration of China (CAAC), the Brazilian aircraft manufacturer announced today. “Embraer has been strengthening its market position in China’s executive aviation market over the past few years,” said Embraer China president Guan Dongyuan. “The CAAC’s certificate for the Phenom 100 is great news for Embraer and prospective customers. With the approval, the company can deliver copies of the eight-seat jets to Chinese customers.
Air China and GA Telesis have agreed to establish an Asia-based integrated spare parts supplier in China. After almost a year of planning, the companies have respective top management approvals to move forward with the formation of GA Telesis China (GATC), a joint venture based in China. The enterprise claims it will be the first aircraft part-out business and integrated full-scale redistribution stock list based in China covering the entire Asian market.
For the past two years, the business aviation industry has pondered when the oft-mentioned bottom of the trough in aircraft deliveries might actually be reached. In a recent JetNet iQ survey, half of the respondents believe deliveries have already hit bottom, while more than 25 percent see the industry as showing some upward momentum at last.
Embraer Defense and Security delivered the first of three EMB-145 airborne early warning and control (AEW&C) aircraft to the government of India on August 13. The aircraft, fitted with an Indian-developed airborne early warning radar, was delivered at Embraer’s headquarters in São José dos Campos, Brazil.
Duncan Aviation has named Allan Orsi regional manager in Brazil. Orsi will travel the region meeting aircraft operators, management organizations and other service providers with the goal of maintaining and building relationships within the region. Orsi has been with Duncan Aviation since 2008. He has prior work experience with Honeywell, Embraer, Bosch and Aerostation. Orsi has a bachelor’s of science degree in mechanical engineering and an international trade technical degree.
Algar Aviation, Piaggio Aero’s exclusive representative in Brazil, has made a splash at LABACE 2012 with its display of the Italian manufacturer’s Avanti II turboprop twins.
Embraer Executive Jets announced yesterday that the first part was milled last week for its Legacy 450, ushering in the start of the mid-light twinjet’s fabrication. The first part, an unspecified component of the forward fuselage, was milled from a block of aluminum alloy. Once completed, the part was approved by a quality control process that employed the use of laser devices for design validation with the digital mockup.