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Embraer's First Legacy 650

Last week, Empresa Brasileira de Aeronautica S.A., or Embraer (ERJ - Analyst Report), the largest Brazilian aircraft manufacturer, delivered the first Legacy 650 large executive jet in Brazil.

Recently, Embraer signed an agreement with Deutsche Lufthansa AG for eight new EMBRAER 195 jets for a total value of $338 million and delivered the first ultra large Lineage 1000 executive jet to VIP charter company Falcon Aviation Services of Abu Dhabi, UAE.

Embraer’s product portfolio supports stronger customer orders and deliveries. Embraer is experiencing strong orders for its 170/195 jet. The company is planning to deliver the mid-sized Embraer MSJ or Legacy 450 and the mid-light Embraer MLJ or the Legacy 500 by the second half of fiscal 2012 and 2013, respectively.

During the third quarter of fiscal 2010, Embraer delivered 44 aircraft, including 20 commercial jets and 24 executive jets, a decrease from 69 deliveries in the second quarter of 2010. However, the order backlog remained flat at $15.3 billion.

Embraer received five contracts for KC-390 defense aircraft in the first quarter of fiscal 2010. Hence, it is expected to sell at least 54 KC-390 defense aircraft beginning fiscal 2015. The Defense segment contributes a significant part of Embraer’s revenues. During the nine months ended September 30, 2010, the segment contributed 13.0%.  



 Analyst Blog


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