Brazilian aircraft manufacturer Embraer has announced its earnings for the second quarter (Q2) of 2023, which emphasised a 57% growth year on year (YoY) in the commercial aviation sector due to its completed deliveries.
The company delivered 47 aircraft in Q2, a 47% increase over the same period last year.
The manufacturer further reported $1.29bn in revenue in Q2 2023, boasting a 27% increase from Q2 2022 and an 80% increase from Q1 2023.
The promising results put the Brazilian corporation in an upbeat state, as it intends to attain a net revenue of between $5.2bn and $5.7bn for the entire year of 2023, indicating a 27% increase.
As noted by Reuters, Embraer CEO Francisco Gomez Neto highlighted the bullish outlook for the rest of 2023: “Despite the supply chain challenges, we are very optimistic about this year after a good Q2.
“We expect Q3 to be good as well and an even better Q4, with new deals in the commercial units expected in the second half.”
Many airlines, including Scoot, SKS Airways, Binter and Royal Jordanian, displayed interest in Embraer’s E2 plane. This includes a new order for seven E aircraft from American Airlines.
As previously reported, Scoot, a subsidiary of Singapore Airlines, has agreed to increase its fleet with Embraer’s E190-E2, as the low-cost carrier wants to grow its position in Southeast Asia.
The impressive E2 expansion plays a part in Embraer’s commitment to the aviation industry’s goal of net zero by 2050, as the jets feature a 24% decrease in carbon emissions and fuel burn compared to the previous generation of E-Jets.
Embraer reached milestones in Q2, including the introduction of its first eVTOL production site in Brazil, which aligned with its growth strategy plan.
The results further demonstrated strong efforts within the executive aviation sector, with a reported portfolio book-to-bill ratio of 2:1.
Of the 47 aircraft supplied in Q2, 17 were commercial aircraft and the remaining 30 were executive jets.
