Embraer Sells Out BizJet Production Until Late 2021
Brazil-based Embraer’s executive-jet division took in record orders for the first three months of 2021, driven by first-time buyers and recovery in the small and midsize business-jet segment, the company said.
About 50% of the division’s orders during the first quarter were from first-time buyers, officials said on a financial-results call with analysts April 30. The company’s production is sold out until the fourth quarter.
Embraer recorded growth in its business-jet order backlog across its product lines with a book-to-bill for the quarter of 1.75:1, the number of orders compared to deliveries. “Another piece of great news for us,” Francisco Gomes Neto, Embraer president and CEO, told analysts.
Embraer’s executive-jet division recorded $152.1 million in net revenue during the first quarter, up 18.8% from the same time a year ago.
In all, Embraer posted an adjusted net loss of $96 million during the quarter, compared to a loss of $104 million a year ago.