São José dos Campos, Brazil – April 19, 2024 – Embraer, the world’s leading manufacturer of commercial jets under 130 seats, reported a stellar first quarter of 2024, with a significant increase in deliveries, a record-breaking backlog, and positive momentum across all business segments.
Deliveries Take Flight
Embraer delivered a total of 25 jets in Q1 2024, a remarkable 67% jump compared to the 15 aircraft delivered in the same period last year. This marks the highest number of deliveries for the first quarter in the past eight years. The growth was driven by a surge in Executive Aviation deliveries, which more than doubled year-over-year, reaching 18 jets from just 8 in Q1 2023. Commercial Aviation deliveries remained flat year-over-year at 7 aircraft.
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Backlog Reaches New Heights
Embraer‘s overall backlog reached a staggering US$21.1 billion in Q1 2024, a 13% increase from the previous quarter. This represents the highest backlog level for the company in the past seven years, indicating strong future demand for Embraer aircraft. The increase was most prominent in Commercial Aviation, where the backlog grew by a significant 26% to US$11.1 billion. Executive Aviation also saw a healthy backlog increase of US$300 million, reaching US$4.6 billion.
American Airlines Places Major Order
A major highlight of the quarter was the firm order from American Airlines for 90 E175 jets, with additional purchase rights for 43 more aircraft. This order signifies a strong rebound in domestic demand within the United States for Embraer’s E-Jets, a family of regional jets known for their efficiency and performance.
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Executive Aviation Maintains Momentum
Embraer’s Executive Aviation segment continued its positive sales trajectory, with sustained demand across its entire product portfolio. Deliveries in the light jet segment grew by an impressive 83% year-over-year, while medium jet deliveries more than tripled compared to Q1 2023. This strong performance reflects the continued popularity of Embraer’s executive jets among both retail and fleet customers.
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Embraer Praetor-600 Executive Jet.
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Defense and Security Prepares for Growth
Despite a slight decrease in the Defense & Security backlog, the segment witnessed key milestones during the quarter. The first C-390 Millennium aircraft for the Hungarian Air Force successfully completed its maiden flight and is undergoing mission systems integration testing. Additionally, Embraer hosted its first Defense Day in the United States, showcasing the C-390 Millennium and A-29 Super Tucano to potential customers and partners. Several countries in the EMEA (Europe, Middle East, and Africa) and APAC (Asia-Pacific) regions have expressed interest in the C-390, and their potential orders are expected to significantly increase the backlog in future quarters.
Embraer C-390-Aircraft.
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Services and Support Remains a Growth Engine
Embraer’s Services & Support business unit continues to be a vital contributor to the company’s growth strategy. This segment focuses on providing operational excellence, exceptional customer experiences, and innovative solutions to Embraer jet operators. The Services & Support backlog remained stable at US$3.1 billion in Q1 2024, highlighting its consistent performance and crucial role in supporting Embraer’s long-term success.
Looking Ahead
Embraer’s exceptional performance in Q1 2024 paints a promising picture for the rest of the year. The record-breaking backlog, coupled with surging deliveries and positive momentum across all segments, positions the company for sustained growth. Embraer’s commitment to innovation, customer satisfaction, and addressing the evolving needs of the aviation industry positions them as a leader in the commercial and executive jet market. The company’s strategic initiatives to mitigate business seasonality and expand its global footprint will further solidify its position in the years to come.
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