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Sat, Aug 05, 2023

Embraer Delivers Big Q2 2023 Numbers

Carnaval!

Embraer S.A., the multinational aerospace manufacturer of commercial, military, executive, and agricultural aircraft founded in 1969 and headquartered in São Paulo, Brazil, has made public its Q2 2023 earnings report. Compared to 2022’s second-quarter, the deliveries of the Brazilian air-framer’s aircraft increased by a tremendous 47-percent. Moreover, the company’s backlog of firm orders reached a handsome $17.3-billion (USD).

The second-quarter of 2023 saw Embraer deliver a total of 47 jets; 17 of which were commercial aircraft while the remaining thirty were executive aircraft comprising 19 light and 11 midsize jets. Since January 2023, Embraer has delivered a total of 62 aircraft comprising 24 commercial and 38 executive jets.

In the first half of 2023, Embraer’s aircraft deliveries increased 35-percent compared to the same time period in 2022—during which 46 jets were delivered. Compared to the second quarter of 2022, Embraer’s delivery volumes increased by 55-percent in commercial aviation and 43-percent in executive jets.

In commercial aviation, American Airlines signed a firm order for seven new E175 narrow-body jets. The aircraft will be operated by AAL subsidiary Envoy Air. Deliveries of subject aircraft are to commence in 2023’s fourth-quarter. Envoy’s E-Jet fleet, by dint of the new order, will grow to over 140 aircraft by the end of 2024.

Embraer also received a firm order from Binter for six E195-E2s, thereby bringing the air-carrier’s E2 fleet to a total of 16 specimens. The order will be included in Embraer’s backlog once all contractual contingencies are cleared.

Malaysia’s SKS Airways closed an agreement to add ten E195-E2 jets to its fleet. In addition, SKS joined the Pool Program which supports aircraft operated in Southeast Asia. Furthermore, Scoot, a low-cost subsidiary of Singapore Airlines, has added nine E190-E2s to its portfolio. Similarly, Royal Jordanian Airlines has reached an agreement to grow its fleet by a total of eight E190-E2 and E195-E2 jets. All three agreements involve contracts with aircraft leasing concern Azorra.

Indian air-carrier Star Air added four new E175s to its extant fleet of E-Jets and extended its Pool Program contract to include the aforementioned aircraft.

In addition to Star Air and SKS Airways, Embraer Services & Support signed Pool Program contract extensions with Rex Group (Australia) and Amelia (France).

Yet another 2023 second-quarter highlight for Embraer’s business unit was the announcement of a twenty E-Jet P2F [Passenger to Freighter] conversion for the Lanzhou Group. The deal occasioned the first Embraer P2F agreement in China.

Within the context of executive aviation, NetJets entered into a contract with Embraer for the acquisition of up to 250 Praetor 500 options. The deal is valued at upwards of $5-billion. Deliveries of the Praetor jets are to begin in 2025.

Embraer’s Defense & Security division oversaw the signing of a Memorandum Of Understanding (MOU) with Saab to position the C-390 Millennium as the preferred solution for the tactical air transport requirements of the Swedish Air Force and in the search for opportunities for potential Gripen customers in Latin America.

FMI: www.embraer.com

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