Embraer delivered a total of 25 aircraft in the first quarter of 2024, a rise of 67% year-on-year, as the Brazilian manufacturer reiterates its expectations of delivering between 72-80 and 125-135 aircraft for the full year in the commercial and executive segments respectively.
Aircraft delivered during the first period of 2024 included 18 executive jets and seven commercial jets, up from the 15 aircraft delivered in Q1 2023. This symbolises the highest number of executive aviation deliveries for the past eight years, with an overall backlog volume worth $21.1 billion (up 13% quarter-on-quarter).
11 of the executive segment were light jets (an 83% rise year-on-year) and a further seven were medium jets, more than tripling Embraer’s Q1 2023 medium jet delivery total. Executive aviation ended Q1 2024 with a backlog of $4.6 billion and total revenues 2.75 times higher year-on-year at $239.6 million, mainly explained by the increase in sales volumes. Of all of Embraer’s business segments, “executive aviation stood out with 2.75% [revenue] growth – the highest 1Q revenues and number of deliveries over the last eight years,” explains Embraer.
On the commercial side, four E195-E2s and three E175s were delivered in Q1 2024; down from the previous quarter’s total of 25 aircraft. The manufaturer’s milestone 1800th production E-Jet, an Azorra-owned E190-E2, was also delivered during this quarter; with Embraer commercial aviation president and CEO Arjan Meijer noting that Embraer continues to see “a bright future for these aircraft and the compelling efficiency, superior experience and clear economic advantages they provide”. Embraer’s commercial aviation backlog also went up $2.3 billion quarter-on-quarter, a rise of 26%; representing the company’s largest backlog increase. However, commercial revenues of $200.8 were largely flat year-on-year.
Embraer reiterates the validity of its current full year 2024 guidance, estimating commercial deliveries of between 72-20 and executive deliveries of between 125-135 aircraft. Its E195-E2 platform is currently experiencing the highest firm order backlog at 174 units, followed by the E175 at 82; bolstered by an order placed by American Airlines during the quarter for 90 examples of the type.
On 7 May 2024, Singapore Airlines’ low-cost subsidiary Scoot also commenced commercial operations with its new E190-E2 fleet, with the aircraft delivered to Singapore on 29 April.
First published by FINN: www.wearefinn.com
May 7, 2024 – 4:36 pm
