Embraer Skids on Delivery News - InvestingChannel

Embraer Skids on Delivery News

Embraer (NYSE:ERJ) shares dipped early Friday.

Earlier this month, the company also revealed that it delivered a total of 34 jets in the second quarter of 2021, of which 14 were commercial aircraft and 20 were executive jets (12 light and eight large). As of June 30, the firm order backlog totaled $15.9 billion, a 12% increase compared to the backlog at the end of the first quarter, and which represented a return to pre-pandemic levels.

The current backlog includes the 30 E195-E2 aircraft firm order from Canada’s Porter Airlines, which was initially reported as an “undisclosed” order on April 29. The client was revealed to the market on July 12.

During 2Q21, Helvetic Airways, from Switzerland , received the first of four new E195-E2 aircraft. Helvetic ordered 12 E-Jets E2s to support its fleet renewal initiative: eight E190-E2s (already in service) and four E195-E2s (converted from the original E190-E2 order). The airline also holds purchase rights for an additional 12 aircraft.

In the executive aviation segment, during 2Q21, Embraer delivered the 600th Phenom 300 series business jet to Superior Capital Holdings, LLC based in Fayetteville, Arkansas. Also, Embraer delivered the first limited-edition Phenom 300E aircraft, part of the Duet collaboration with Porsche, to an undisclosed customer in Fort Lauderdale, Florida.

Embraer completed the first conversion of a Legacy 450 to a Praetor 500 jet in Brazil , which was delivered to an undisclosed customer. The conversion was performed at Embraer’s Service Center in Sorocaba, Brazil. With this delivery, Embraer has already converted a total of 20 Legacy 450s into Praetor 500s in Europe , North America, and now Brazil. The full conversion process can be performed at Embraer Owned Service Centers.

ERJ shares sagged 19 cents, or 1.3%, to $15.02

Related posts

Advisors in Focus- January 6, 2021

Gavin Maguire

Advisors in Focus- February 15, 2021

Gavin Maguire

Advisors in Focus- February 22, 2021

Gavin Maguire

Advisors in Focus- February 28, 2021

Gavin Maguire

Advisors in Focus- March 18, 2021

Gavin Maguire

Advisors in Focus- March 21, 2021

Gavin Maguire