Embraer revenues rise in Q2 2023 as deliveries increase
Revenues at plane-maker Embraer were up more than a quarter in the three months to June, reaching $1.292bn, as the company delivered 47 jets across its commercial and executive…
Revenues at plane-maker Embraer were up more than a quarter in the three months to June, reaching $1.292bn, as the company delivered 47 jets across its commercial and executive divisions.
Embraer delivered 17 commercial aircraft and 30 executive jets (19 light and 11 mid-size), a strong increase of 47% in total deliveries compared to 2Q22.
Revenues up
Revenues were 27% higher than 2Q22 and 80% higher than 1Q23. Within the commercial aviation division, Embraer saw a double-digit growth of 57% and in executive aviation a growth of 42% year on year.
The adjusted EBIT of 7.7% for the quarter compared to 8.0% in 2Q22, which Embraer said was a result of a different revenue mix, but was in line with company expectation.
Embraer order backlog
The firm order backlog ended 2Q23 at $17.3bn, which Embraer said was stable.
Within commercial aviation, American Airlines signed a firm order with Embraer for seven new E175s. The aircraft will be operated by the subsidiary Envoy Air. With deliveries to begin 4Q23, Envoy’s fleet of E-Jets will grow to over 141 aircraft by the end of 2024.
Embraer and the leasing company Azorra announced a new agreement for eight aircraft with Royal Jordanian in a total of eight commercial jets: four E190-E2 and four E195-E2.
Scoot’s E190-E2 order
Additionally, Scoot, a low-cost subsidiary of Singapore Airlines, selected Embraer’s E190-E2 jet to drive growth in the Asia-Pacific region, with nine E190-E2s will be added to Scoot’s fleet.
SKS Airways chose Embraer’s E195-E2 jet to boost its growth plans for the Asia-Pacific region as well.
The E195-E2 will be the main aircraft for SKS Airways’ expansion plans and will be based at Subang Airport in Kuala Lumpur from 2024.
In Europe, Binter has placed a firm order for six E195-E2 aircraft, making its fourth order of E2 jets to bring its fleet to 16 when delivered.
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