Embraer deliveries slide 24% so far in 2018
Deliveries of Embraer business jets were down 24% in the first half of 2018 compared to last year according to new numbers published by the company, with 31 jets against 41 the year before. Following the acquisition of Embraer by Boeing, the business jet division is set to remain independently owned by Embraer.
The only aircraft to see an increase in deliveries so far this year for Embraer is the Legacy 450 with one aircraft more shipped by the Brazilian manufacturer. Air Hamburg, a growing German-based private jet operator, ordered four new Legacy 650Es, on top of the two it already owns, pushing up total orders for the company.
Founded in 1969, Embraer was first only a domestic manufacturer controlled by the government. In 1994, the company was privatized to help it avoid bankruptcy, with the Brazilian government retaining golden shares that gave it veto power. The company held its IPO in 2008 on the NYSE. In 2017, it posted a net income of $246.8 million.
Amongst its current business jet lineup is the popular Phenom series in the light jet space, which has been positioned both as efficient from a maintenance standpoint and speed as well as the Legacy series, a strong contender in the midsize and heavy jet space. Its flagship Lineage 1000E though was slow to gain traction in the VVIP space.