Embraer’s Jet Deliveries Down by a Third after Fallout with Boeing
Embraer delivered 14 jets in the first quarter of the year, down from 22 planes delivered during the same period in 2019, partly due to Boeing’s scrapping of a strategic partnership with the company in April.
“Embraer seasonally has fewer deliveries during the first quarter of the year, and in 2020 in particular, the commercial aircraft deliveries in the first quarter were also negatively impacted by the conclusion of the separation of Embraer's Commercial Aviation unit in January,” the company said Tuesday.
The 14 delivered jets include five commercial aircraft and nine executive jets (5 light / 4 large). In Q1 2019, the company delivered 11 commercial jets and 11 executive jets (8 light / 3 large).
As of March 31st, the firm order backlog, a gauge of future revenue, totalled $15.9 billion.
During the first quarter, Embraer Executive Jets announced that the new Phenom 300E was granted its Type Certificate by ANAC (National Civil Aviation Agency of Brazil), EASA (European Union Aviation Safety Agency) and the FAA (Federal Aviation Administration). The new Phenom 300E is the recently enhanced version of the Phenom 300 series, which was the most delivered business jet series in the 2010s.
Embraer-Boeing feud:
The Brazilian firm was preparing to carve out its commercial aircraft division to form a joint-venture with Boeing under Master Transaction Agreement (MTA) signed between the two companies in 2012, which was expanded in 2016.
On April 24, Boeing terminated the contract, irking Embraer.
“Embraer believes strongly that Boeing has wrongfully terminated the MTA, that it has manufactured false claims as a pretext to seek to avoid its commitments to close the transaction and pay Embraer the $4.2 billion purchase price,” the company said. We believe Boeing has engaged in a systematic pattern of delay and repeated violations of the MTA, because of its unwillingness to complete the transaction in light of its own financial condition and 737 MAX and other business and reputational problems," Embraer had said in a statement.
Embraer: Boeing “Wrongfully” Terminated JV Agreement, Failed to Pay $4.2B
Boeing Terminates Joint Venture Agreement with Embraer
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