Embraer Fourth Quarter Net Up 75 percent
Embraer posted stronger net income for the 2016 fourth quarter of USD$195.2 million, a 75 percent increase on the previous year.
Revenue for the quarter came in at USD$2.03 billion, a 2.2 percent drop from 4Q15 as the Brazilian airframer delivered fewer aircraft.
Embraer delivered 32 commercial and 43 executive aircraft in the quarter to end December 2016, a slight reduction on the previous year period’s 33 commercial and 45 executive jets.
For the full year 2016, Embraer’s net income came in at USD$166.1 million, from USD$69.2 million the previous year. Revenue for the year rose 4.9 percent to USD$6.22 billion as the company delivered more commercial jets.
Total annual deliveries were 108 commercial and 117 executive aircraft, as opposed to 101 commercial and 120 executive jets in 2015.
Embraer said development of the new generation E2 commercial aircraft range is continuing as planned, with entry into service of the first model, the E190-E2, expected in the first half of 2018. Norwegian regional carrier Widerøe will be the first airline to receive the E190-E2.
The first of the larger E195-E2 jets was rolled out at the company’s São José dos Campos factory on Tuesday. Brazil’s Azul will be the E195-E2 launch operator.