Embraer’s second quarter is off to a positive start with an order for 30 E195-E2 jets from an undisclosed customer as the Brazilian manufacturer looks to secure more new orders in 2021.
The 30 aircraft will be added to Embraer’s second quarter backlog; the company expects to deliver the first 12 jets in 2022. At the end of the first quarter (Q1), the airframer had a firm order backlog of 272 commercial aircraft. The value of its total backlog as of March 31 was $14.2 billion, compared with $15.9 billion at the same point in 2020.
“It’s important to highlight that we also have several other active campaigns in different regions and anticipate a book-to-bill above one for the commercial aviation [segment] this year,” Embraer CFO Antonio Garcia said.
Additionally, Embraer has decided to push back the entry-into-service date for the E175-E2 from 2023 to 2024. “We don’t expect short-term scope clause changes in the United States,” Garcia explained. “And we continue to optimize our cash investment and assess the market conditions.”
In Q1 Embraer delivered nine commercial jets, compared with four deliveries in Q1 2020. The company’s commercial unit represented 34% of Embraer’s Q1 net revenue of $807 million. That compares with net revenue of $1.8 billion in the 2020 fourth quarter, and $634 million during Q1 2020.
The company posted an adjusted Q1 net loss of $96 million, narrowed from its $104 million net loss a year prior.
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