A Embraer yesterday released its aircraft deliveries and orders data for the 1st quarter of 2021, with a good result for the period, similar to the same quarter in 2019, before the crisis.
Click Here to view Q1 aircraft deliveries data.
tly, Embraer presented its order backlog data. In recent months, the manufacturer has had a considerable reduction in its backlog, despite still computing US$ 14,2 billion in future deliveries of commercial aircraft.
At the end of the 1st quarter, Embraer still had 272 firm orders to deliver in the commercial aviation sector, which maintains aircraft production for 90 months (7 years and 6 months), considering an average production of 3 E-Jets per month , as in the last quarter.
However, every year the backlog of commercial aircraft is shrinking, even before the crisis, unlike Airbus and Boeing.
In the 1st quarter of 2019, Embraer had an order backlog of 359 aircraft, which was reduced to 318 aircraft a year later, in the 1st quarter of 2020, and now s 272 aircraft still to be delivered.
The executive aviation backlog is not openly disclosed by Embraer.
Editor's Note: Embraer announced this morning (29) that it received an order for 30 E195-E2 aircraft. With this order, the total number of aircraft ordered and still to be manufactured goes to 302, along with the production period increases by another 10 months, considering the same average of 3 aircraft per month, which may increase with the resumption of the aviation market.
In a comment to Portal Aeroflap about the data presented by Embraer, Ativa Research said:
Embraer delivered 9 commercial jets and 13 executive jets in 1Q21.
Even if the data is:
I) higher than that delivered in 1Q20, when the company 5 commercial and 9 executive aircraft;
II) similar to 1Q19, when 11 commercial and 11 executive aircraft were delivered;
iii) qualitatively higher than the previous two periods in of commercial aviation, since the company was able to deliver a greater number of new generation aircraft (7 vs. 2 vs. 1);
iv) positive indication of the work done by the company to accelerate deliveries in 1Q21.
We believe that the backlog still presents a considerable gap compared to previous quarters. By reporting a firm order backlog of US$14,2, Embraer shows numbers 11,3% lower than 2019 and 10,7% lower vs. 2Q20, which can also be seen in the number of aircraft to be delivered, which stands at 272 vs. 318 in 1Q20 and 359 in 1Q19.
In short, the numbers show that the company continues with the hard commercial work to sew new contracts and fill the quantitative gap that its report demonstrates.
