Embraer announces record $22.9bn backlog

GMT 17:12 2015 Wednesday ,15 July

Arab Today, arab today Embraer announces record $22.9bn backlog

Brazilian aircraft manufacturer Embraer
Sao Paulo - AFP

Brazilian aircraft builder Embraer announced Wednesday a record $22.9 billion backlog of orders in the second quarter and said it had delivered 60 jets.

Those 60 were up from 58 in the same period last year.

The backlog, which reached $20.4 billion in the first quarter, was the highest level in the company's history, Embraer said in a statement.

Of the planes delivered in the second quarter, 27 were for the commercial aviation market and 33 for the business aviation market.

In May this year, Embraer announced plans to deliver 2,060 jets to the North American market over the next 20 years. It said this would net about $96 billion at current prices.

The world's third-largest commercial plane maker behind Boeing and Airbus, Embraer said it ultimately hopes to win 35 percent of all global sales of the 70-to-130 seat passenger jet market.

Embraer had a $58.9 million first quarter net loss on higher tax costs exacerbated by a weakened real.


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