Embraer increased deliveries 88% quarter on quarter in 2Q24 and backlog totaled US$21.1bn – a 7-year high

    Author microcapwatchPosted on Categories Travel & HospitalityTags , , ,
    • Commercial deliveries soared circa 170% sequentially while Executive Jets grew 50%
    • US$21.1 bn company wide backlog up more than 20% annually
    • 20 E2 jets order from Mexicana de Aviación
    • 2nd C-390 Millennium aircraft delivered to Portugal

    SÃO PAULO, July 18, 2024 /PRNewswire/ — Embraer (NYSE: ERJ; B3: EMBR3) delivered 47 jets in 2Q24, an 88% increase compared to the previous quarter (qoq), when 25 jets were delivered. The company’s overall backlog ended at US$21.1 billion, more than 20% higher annually (yoy) and a 7-year high. Commercial Aviation was the highlight of the quarter with 19 jets deliveries – or circa 170% more qoq (7 jets in 1Q24). Meanwhile, Executive Jets delivered a solid performance with 27 aircraft (18 in 1Q24) while Defense delivered one multi-mission airlift C-390 Millennium.

    Deliveries by Segment

    2Q24

    1Q24

    2Q23

    1H24

    1H23

    2024 Guidance







    Executive Aviation

    27

    18

    30

    45

    38

    125-135

    Phenom 100

    2

    1

    1

    3

    3

    Phenom 300

    18

    10

    18

    28

    22

    Light Jets

    20

    11

    19

    31

    25

    Praetor 500

    3

    3

    6

    6

    6

    Praetor 600

    4

    4

    5

    8

    7

    Medium Jets

    7

    7

    11

    14

    13







    Commercial Aviation

    19

    7

    17

    26

    24

    72-80

    E195-E2

    7

    4

    7

    11

    12

    E190-E2

    4

    –

    –

    4

    –

    E175

    8

    3

    10

    11

    12







    Total

    46

    25

    47

    71

    62

    197-215*







    Defense & Security

    1

    –

    1

    1

    1

    C-390 Millennium

    1

    –

    1

    1

    1

    The company wide backlog reached US$21.1 billion in 2Q24 (or more than 20% higher yoy and marginally higher qoq). The biggest increase happened in Commercial Aviation (+US$227 million) while the biggest decreased occurred in Defense & Security (-US$251 million). The backlog for the other two businesses units increased marginally (+US$45 million).

    Backlog by Segment – US$bn

    2Q24

    1Q24

    qoq

    2Q23

    yoy






    Commercial Aviation 

    11.3

    11.1

    2 %

    8.0

    40 %

    Executive Jets

    4.6

    4.6

    1 %

    4.3

    8 %

    Services & Support

    3.1

    3.1

    0 %

    2.7

    16 %

    Defense & Security

    2.1

    2.4

    -10 %

    2.3

    -5 %






    Total

    21.1

    21.1

    0 %

    17.3

    22 %

    In Commercial Aviation, the backlog reached US$11.3 billion in 2Q24 (+2% qoq). The main highlight of the period was the order for 20 E2 jets by Mexicana de Aviación – Mexico’s state-owned airline. The order includes 10 E190-E2 jets and another 10 E195-E2 jets, with deliveries scheduled to start in 2Q25. Other highlights were the delivery and start of operations of the first E190-E2 to Scoot – the low-cost subsidiary of Singapore Airlines (SIA). Furthermore, Embraer reached another important milestone: the delivery of its 1,800th E-Jet in May. The marquee aircraft was delivered to the leasing company Azorra and it will be operated by Royal Jordanian Airlines.

    2Q24 Backlog – Commercial Aviation 

    Aircraft Type

    Firm Orders

    Deliveries

    Firm Order Backlog

    E195-E2

    282

    100

    182

    E190-E2

    44

    23

    21

    E175

    943

    764

    179

    Total

    1,269

    887

    382

    Executive Jets continued to seize great sales momentum in both fleet and retail markets, demonstrating solid delivery performance and maintaining a positive book-to-bill ratio. The backlog ended the period marginally up at US$ 4.6 billion in 2Q24 (+1% qoq).

    The Services & Support unit continues to be one of the main drivers of Embraer’s growth through a combination of operational excellence, customer experience and innovative solutions. Its backlog ended 2Q24 roughly unchanged at US$3.1 billion.

    In Defense & Security, the highlight was the delivery of the 2nd C-390 Millennium to the Portuguese Air Force (FAP), in a ceremony held in Gavião Peixoto (SP), Brazil. In 2019, FAP ordered 5 KC-390s, including a comprehensive services and support package and a flight simulator. The 1st aircraft entered service in October 2023 at Beja Air Base. The selection of the C-390 by some countries in Europe has not yet been incorporated into the backlog, which represents a significant source of potential growth for the coming quarters. The backlog in Defense & Security decreased 10% qoq and reached US$2.1 billion in 2Q24.

    Commercial Aviation aircraft backlog:

    Customer (Country)

    Firm Orders

    Delivered

    Firm Order Backlog

    Embraer 195-E2

    282

    100

    182

    Azul (Brazil)

    51

    –

    51

    Porter (Canada)

    75

    36

    39

    Aercap (Ireland)

    45

    19

    26

    Azorra (USA)

    23

    5

    18

    Mexicana (Mexico)

    10

    –

    10

    Aircastle (USA)

    23

    14

    9

    Air Peace (Nigeria)

    13

    5

    8

    Binter Canarias (Spain)

    16

    10

    6

    Salam Air (Oman)

    6

    –

    6

    Luxair (Luxembourg)

    4

    –

    4

    ICBC (China)

    10

    7

    3

    Royal Jordanian (Jordanian)

    2

    –

    2

    Helvetic (Switzerland)

    4

    4

    –

     

    Customer (Country)

    Firm Orders

    Delivered

    Firm Order Backlog

    Embraer 190-E2

    44

    23

    21

    Mexicana (Mexico)

    10

    –

    10

    Azorra (USA)

    12

    4

    8

    Aircastle (USA)

    2

    –

    2

    Air Kiribati (Kiribati)

    2

    1

    1

    Aercap (Ireland)

    5

    5

    –

    Helvetic (Switzerland)

    8

    8

    –

    Wideroe (Norway)

    3

    3

    –

    Placar Linhas Aéreas (Brazil)

    1

    1

    –

    Undisclosed

    1

    1

    –

     

    Customer (Country)

    Firm Orders

    Delivered

    Firm Order Backlog

    EMBRAER 175

    943

    764

    179

    American Airlines (USA)

    204

    108

    96

    Republic Airlines (USA)

    187

    141

    46

    Skywest (USA)

    228

    207

    21

    Horizon Air / Alaska (USA)

    50

    44

    6

    Air Peace (Nigeria)

    5

    –

    5

    Undisclosed

    4

    –

    4

    Overland Airways (Nigeria)

    3

    2

    1

    Air Canada (Canada)

    15

    15

    –

    Air Lease (USA)

    8

    8

    –

    Alitalia (Italy)

    2

    2

    –

    Belavia (Belarus)

    1

    1

    –

    CIT (USA)

    4

    4

    –

    ECC Leasing (Ireland)*

    1

    1

    –

    Flybe (UK)

    11

    11

    –

    Fuji Dream (Japan)

    2

    2

    –

    GECAS (USA)

    5

    5

    –

    KLM (The Netherlands)

    17

    17

    –

    LOT Polish (Poland)

    12

    12

    –

    Mauritania Airlines (Mauritania)

    2

    2

    –

    Mesa (USA)

    7

    7

    –

    NAC / Aldus (Ireland)

    2

    2

    –

    NAC / Jetscape (USA)

    4

    4

    –

    Northwest (USA)

    36

    36

    –

    Oman Air (Oman)

    5

    5

    –

    Royal Jordanian (Jordan)

    2

    2

    –

    Suzuyo (Japan)

    11

    11

    –

    TRIP (Brazil)

    5

    5

    –

    United Airlines (USA)

    110

    110

    –

    * Aircraft delivered by ECC Leasing: one to Air Caraibes


    Cision View original content:https://www.prnewswire.com/news-releases/embraer-increased-deliveries-88-quarter-on-quarter-in-2q24–and-backlog-totaled-us21-1bn–a-7-year-high-302201288.html

    SOURCE Embraer S.A.

    Featured image: ©

    Disclaimer