Brazil’s Embraer more than doubles profits in 2016

13 March 2017

Brazilian aeronautical company Empresa Brasileira de Aeronáutica (Embraer) ended 2016 with a net profit of 585.4 million reais (US$186.3), or more than double the 241.6 million reais recorded in 2015, the company said in a market filing.

Net income for the fourth quarter of 2016 reached 648.3 million reais (US$206.3 million), a 52.2% increase compared to the same period of 2015, which stood at 425.8 million reais.

In this quarter, the company delivered 32 commercial aircraft and 43 executive jets (25 light and 18 large) and delivered 108 commercial jets and 117 executive jets throughout the year.

For this year, the companyexpects revenues of between US$5.7 and US$6.1 billion, with delivery of 97-102 commercial jet aircraft and 105-125 executive jet aircraft.

Embraer, which is the world’s third largest aircraft manufacturer after Boeing and Airbus, said Brazilian airline Azuk will be the first airline to operate E195-E2 jet aircraft, which should enter service in the second half of 2019. (macauhub)