Brazil's Embraer delivered 69 commercial and executive jets in the second quarter, up from 54 a year earlier, further evidence that the civil aviation market is gradually recovering.
The Sao Jose dos Campos-based company said in a securities filing on Thursday that it delivered 40 executive jets in the period, compared with 19 a year earlier. Deliveries of commercial aircraft fell to 29 from 35.
Embraer's pipeline of firm orders fell 5 percent to USD$15.2 billion as of June 30, a slower decline when compared to the first quarter. A year earlier, firm orders were USD$19.8 billion.
The numbers highlight chief executive Frederico Curado's success in increasing deliveries of executive jets amid one of the toughest periods for global commercial aviation. Selling more of Embraer's smaller yet pricier jets is helping the company weather a drop in revenue and prevent profit margins from plummeting further.
More planes were delivered in South America, the United States and Europe, underscoring a recovery in travel demand and activity in those regions.
"The recent significant increase in executive jet flight volume in Europe and the US is a likely indication that business jet sales will accelerate soon," Banco Santander analyst Caio Dias wrote in a recent report.
Embraer has forecast deliveries this year will total 90 commercial planes and 137 executive jets. The numbers do not include deliveries of defense aircraft.
In 2009, deliveries totaled 244 jets, two more than initially programmed.
