Embraer’s Q1 2024 results show strong growth for the regional jet manufacturer, with an overall backlog of US$21.1 billion – the highest level in the past seven years, up $2.4 billion or 13%, from Q4 2023.
The biggest increase in this backlog can be attributed to its Commercial Aviation division, which posted a $11.1 billion backlog, a jump of $2.3 billion from Q4 2023 – a rise of 26%.
Embraer Commercial Aviation posted significant orders in this quarter, including its deal with American Airlines for 90 E175s, with purchase rights for another 43 jets, and its delivery of one E195-E2 to Azorra, flown by Royal Jordanian.
Overall, its Commercial Aviation arm has a firm order backlog of 381 aircraft: 179 E195-E2s, 15 E190-E2s, and 187 E175s. Notable airlines with a large backlog include Porter Airlines, which is awaiting 43 E195-E2 jets, and Republic Airlines, which has 47 E175 jets.
Deliveries have welcomed an uptick, increasing by 67% in 1Q24. Embraer Commercial Aviation delivered 868 aircraft out of 1,249 firm orders.
The Services and Support segment of Embraer did not increase in growth but remained steady, bringing in $3.1 billion in 1Q24. Executive Aviation kept up its demand, too, with an 83% increase in deliveries in the light jet segment.
The only sector that saw a dip in growth quarter-on-quarter was its Defense and Security segment, decreasing by 4%.
Image credit: Embraer
