Operational efficiency helps Embraer to post quarterly profit
Brazilian aircraft manufacturer Embraer has posted a net profit of US$2.1 million in the fourth quarter of 2021, citing better prices and operational efficiency.
During the fourth quarter of 2021, Embraer’s revenues reached US$1.3 billion and US$4.2 billion in 2021. However, over the course of 2021, Embraer’s net loss to its shareholders reached US$44.7 million.
In 2021, the Brazilian planemaker delivered a total of 141 aircraft: 48 commercial aircraft and 93 executive jets. This compares to 130 aircraft delivered in 2020. Looking ahead to the future, Embraer expects to deliver a total of 180 aircraft, consisting of 60 commercial and 110 executive jets, in 2022.
Commercial aircraft deliveries in 2021 included 27 E175s, 19 E195-E2s, and two E190-E2 jets. Meanwhile, executive jet deliveries included 56 Phenom 300s, 17 Praetor 600s, 14 Praetor 500s, and six Phenom 100 jets.
Embraer also revealed that its firm order backlog has reached the highest level since the second quarter of 2018. As of December 31, 2021, Embraer had a firm order backlog of 325 aircraft worth $17 billion, even after the Brazilian Air Force reduced its orders for KC-390 Millennium aircraft from 28 to 22. Embraer’s firm order backlog currently includes 170 E195-E2s, 147 E175s, five E190-E2s, and three E190 passenger jets.
In late February 2022, Embraer announced a three-year delay to its Embraer E175-E2 jet development program.
The planemaker attributed the delay to “the ongoing US mainline scope clause discussions with the pilot unions regarding the maximum take-off weight limitation for aircraft with up to 76 seats, as well as global market conditions for commercial aviation and continued interest in the current E175 jet in the North American market”.
The E175-E2 flew its maiden flight in December 2019 and was initially scheduled to enter service in 2021. The company now sees the E175-E2 jet entering service between 2027 and 2028.
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